The financial services industry which offers financial products to customers is the fastest growing industry in the world today. This is so much so with Sri Lanka too; in particular within the modern money based economies, financial services form the backbone of all economic activities. Hence, naturally, when economies grow, the need for financial products grows equally in leaps and bounds. As the financial products grow in complexity, it poses several challenges to those who man the industry. One such challenge is the need for upgrading products continuously to meet the changing requirements of customers. Likewise, another challenge is how those who run the industry could keep their knowledge continuously updated against a rapidly evolving environment where the existing knowledge becomes obsolete fast.
A third challenge is how those who run the industry could foresee the future requirements and gain capacity to meet those requirements. Similarly, a fourth is how the risks associated with the fast growing industry should be properly mitigated. This is because; having identified risky areas appropr iate meas - ures should be taken in advance to mitigate them. A fifth is how the industry could cater to the demands of the socio-cultural-political aspirations of the community such as making financial services available to people at large and empowering the down-trodden in financial terms. These are real challenges and the industry has to prepare itself adequately to meet them.
Banking education is at the fore of everything. It is necessary to educate bankers who are currently on the job as well as those who aspire to become bankers in future. In this background, Northumbria University and i t s a w a r d w i n n i n g Business School introduces BSc (Ho n s ) Degree in Banking and Finance in Sri Lanka in partnership with BMS, a higher learning institution with an impressive track record of fifteen years,. The Deg ree is a c o m p l e t i o n award and can be studied by existing bankers as a top up Degree with their pre-qualifications. University of Northumbria qual i - fications are recognised by University Grants Commission of Sri Lanka and the University’s Business School is named as the Business School of the year 2015 in the UK.
Further, Northumbria University Business School has received double accreditation from the international prestigious body, AACSB, which makes the Business School within 1% Business Schools in the world. The degree course will equip students with an advanced knowledge of banking and finance. In particular the subjects covered in the program include economics, accounting, finance, banking and management at a general level. At a special level, they would be exposed to advanced risk management techniques which have now been made mandatory by global best practices of banking re gulation and supervision. Hence, the degree program on banking and finance, t o b e i n t ro d u c e d through Northumbria University, will develop bankers for the future of the industry.