The Ministry of Education (MOE) signed a Memorandum of Understanding (MOU) with the Securities and Exchange Commission of Sri Lanka (SEC) today (24th January 2018) to formalise the provision of trilingual financial education among school teachers and students in Sri Lanka. Mr. Sunil Hettiarachchi, Secretary, MOE and Mr. Vajira Wijegunawardane, Director General, SEC entered into the MOU on behalf of the Ministry and SEC.
Financial literacy encompasses many concepts such as financial awareness, knowledge, skills and capabilities. For many years, the SEC has been imparting capital market knowledge across the country for all sections of the society. SEC’s mission to provide financial education starts from the school level by providing sound financial knowledge among school teachers and students. Moreover, since the subject of capital market is at present included in the Business and Accounting Studies for the G.C.E (Ordinary level) and Business Studies for G.C.E (Advanced level) curricula, the SEC will ensure that their capital market awareness initiatives will cover the contents in the school syllabuses.
The agreement will continue to enable the SEC to impart capital market knowledge to students and teachers in all 98 zones in Sri Lanka throughout a period of three years in association with the National Institute of Education. For the year 2018, the SEC is committed to conducting awareness programmes for teachers in 32 zones and for students in at least 32 zones.
In addition, under the agreement basic financial education will be incorporated into more grades in the school curricula and the existing curricula will be updated. The SEC also anticipates publishing a handbook for Advanced level Business studies students and telecasting a television quiz programme on the capital market on state television.
Today’s (24th January 2018) MOU signing is yet another affirmation of SEC’s continued partnership with the MOE to equip school teachers and students with financial literacy competencies to promote financial inclusion.