Education Ministry signs MoU with SEC

From left: SEC Senior Assistant Manager Nimal Kumarasinghe, Ministry of Education Deputy Director of Education Commerce and Business Studies Branch S.N. Malawiarachchi, Ministry of Education Director of Education Commerce and Business Studies Branch W.M.N.J. Pushpakumara, Ministry of Education Secretary Sunil Hettiarachchi, SEC Director General Vajira Wijegunawardane, SEC Director External Relations and Surveillance Tushara Jayaratne and SEC Assistant Manager M.M.A. Imran

The Ministry of Education (MOE) yesterday signed a Memorandum of Understanding (MOU) with the Securities and Exchange Commission of Sri Lanka (SEC) to formalise the provision of trilingual financial education among school teachers and students in Sri Lanka. 

MOE Secretary Sunil Hettiarachchi and SEC Director General Vajira Wijegunawardane 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 programs 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 program on the capital market on state television.

The signing of the MOU 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.