The Colombo Stock Exchange (CSE) and the Sabaragamuwa University of Sri Lanka signed a Memorandum of Understanding (MoU) to formalise collaborative efforts to improve financial literacy among undergraduates in Sri Lanka.
The collaboration will promote capital market education among undergraduates by working together on a number of mutually beneficial strategic initiatives. The initiative would offer practical educational training and internship opportunities for students who are engaged in accountancy and finance, business management, and economics related degree programs with the CSE.
Under the terms of the MoU, the CSE will grant an award to the student who obtains the highest value in the Grade Point Average (GPA) in the Financial Management Specialisation Program. The Sabaragamuwa University of Sri Lanka will also collaborate with the ongoing educational initiatives of the CSE, the Advanced Diploma in Financial Markets (ADFM), as well as future educational activities by providing the required expertise and resource persons to the seminars and workshops organised by the CSE for investors around the country in promoting the capital market investments.
CEO, CSE, Rajeeva Bandaranaike said, “It is vital to promote financial literacy among Sri Lankans, especially among undergraduates, who are a key segment of the population equipped to contribute to an economically stable future. Fronted on this objective, we are glad to be partnered with the Sabaragamuwa University of Sri Lanka in a productive line of initiatives to promote a financially literate undergraduate population for the sustainable growth of the economy in Sri Lanka.”
Vice Chancellor, Sabaragamuwa University, Prof. R.M.U.S.K. Rathnayake said, “This strategic alliance between the Sabaragamuwa University and the CSE would no doubt offer good opportunities to both parties; our undergraduates will stand a chance to be financial literate, while the CSE would be able to obtain resource personnel from our University for their educational initiatives.
“Though Sri Lanka has a high literacy rate, financial literacy in the country stands at a lower rate, which should be a prime concern of the local Government. Our graduates who are going out from the University must know what the stock market is.
“Though people talk about the stock market, they don’t have a clear idea of its operations. So proper awareness on the stock market should be created among our youth, no matter which field they are from. So, this partnership would provide an opportunity to our undergraduates to have a sound knowledge on the capital markets,” Prof. Rathnayake said.