CSE partners with Wayamba/Jaffna universities to improve financial literacy

The Colombo Stock Exchange (CSE) recently signed Memoranda of Understanding (MoUs) with the Wayamba University of Sri Lanka (WUSL) and the University of Jaffna Sri Lanka (UOJ) to formalise collaborative efforts to improve financial literacy among undergraduates.

The MoUs were signed respectively with the Vice Chancellor of Wayamba University, Senior Prof. Udith K. Jayasinghe, and the Vice Chancellor of Jaffna University, Prof. S. Srisatkunarajah, at their respective university premises.

Both collaborations are to promote capital market education among undergraduates by working together on several mutually beneficial strategic initiatives. Accordingly, the initiative would offer practical educational training and internship opportunities for students of both universities who are engaged in accountancy and finance, business management, and economics related degree programmes with the CSE, it was stated in a media release.

Further, under the terms of the MoU, the CSE will grant an award to the student from WUSL and UOJ who obtains the highest value in the Grade Point Average (“GPA”) in the Financial Management Specialisation Programme.

WUSL and UOJ 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.

Commenting on the partnership, CSE CEO Rajeeva Bandaranaike, stated, "It is important to promote financial literacy among undergraduates, who are a key segment of the population equipped to contribute to an economically stable future. We are happy to partner with the Wayamba University and the University of Jaffna in progressive initiatives to promote a financially literate undergraduate population”.

Vice Chancellor, Wayamba University, Senior Prof. Udith K. Jayasinghe, said: "“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 on its operations. So proper awareness on the stock market should be created among our youth, no matter which field they are from. So, this strategic alliance would also provide an opportunity to our undergraduates to have a sound knowledge on the capital markets.” Vice Chancellor, University of Jaffna, Prof. S. Srisatkunarajah, said:

“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. Thus, I am confident that this strategic alliance would provide benefits to both parties in a way; encouraging the younger generation of the country to be a financial literate and to the CSE to obtain resource personnel from UOJ for their educational initiatives.”