The Central Bank of Sri Lanka today launched a series of financial literacy initiatives, including the country’s first national financial literacy curriculum, aimed at improving public understanding of finances and economic management.
Central Bank Governor Nandalal Weerasinghe, introducing the curriculum, said access to financial information enables individuals to better manage their money, plan for the future and improve their economic well-being.
“This financial system transforms the role of the consumer, empowers individuals to make well-informed financial decisions, protecting themselves from fraud, strategize for the future, and ultimately contributing to an inclusive economic growth,” Weerasinghe said during the launch event at the Central Bank. “This ‘inclusivity’ is very important at the end of the day as it serves as a powerful instrument for ending poverty and bridging intergenerational poverty cycles.”
The initiatives were developed in collaboration with the University of Kelaniya, with support from the United Nations Development Programme (UNDP) and the Japan International Cooperation Agency (JICA).
Asuza Kubota, resident representative of UNDP, said 33.4% of Sri Lanka’s population is vulnerable due to household debt, with many depending on loans to meet basic needs such as food, healthcare and education.
“Often the lack of financial literacy contributes to these circumstances, including poor financial decisions,” she said, highlighting the importance of the Central Bank’s timely efforts.
Also present at the launch were JICA Chief Representative Kenji Kuronuma and University of Kelaniya Vice Chancellor Senior Prof. Nilanthi de Silva. The event also marked the introduction of the Certified Trainer in Financial Literacy (CTFL) program. (Newswire)
