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 formalize 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.
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 Specialization 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 organized by the CSE for investors around the country in promoting the capital market investments.
Commenting on the partnership, the CEO of the CSE, 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 Wayamba University and the University of Jaffna in progressive initiatives to promote a financially literate undergraduate population
The Vice-Chancellor, of Wayamba University, Senior Prof. Udith K. Jayasinghe, also sharing his views on the partnership, said, “The MoU signed between the Wayamba University of Sri Lanka and the Colombo Stock Exchange can be identified as a strategic alliance, that promotes collaborative research projects, capacity development of undergraduates, and promotes stock market education within the University community”.
“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 of 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 for our undergraduates to have a sound knowledge of the capital markets.”
The Vice-Chancellor, of the University of Jaffna, Prof. S. Srisatkunarajah, also sharing his views on the partnership, said, “The partnership offers a plethora of opportunities to undergraduates to acquire knowledge on financial studies and capital market operations, which will definitely cause a positive impact on the Sri Lankan economy during these crisis times.”
“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 financially literate and to the CSE to obtain resource personnel from UOJ for their educational initiatives.” (NewsWire)
