CBSL launches transformative financial literacy initiatives

• Key collaborative move towards building a financially literate Sri Lanka

Central Bank Governor  Dr. P Nandalal Weerasinghe

UNDP Resident Representative  Azusa Kubota

JICA Chief Represntative  Kenji Kuronuma

The Central Bank on Thursday marked a significant milestone in its financial inclusion journey with the launch of several transformative initiatives under the Financial Literacy Roadmap of Sri Lanka, aligned with its broader vision of building a “Financially Literate Sri Lanka.” 

These initiatives reaffirm the Central Bank’s strong commitment to empowering the public with the knowledge, skills, and attitudes to transform their financial behaviour for sound financial decision-making and sustainable economic wellbeing.

Under the National Financial Inclusion Strategy (NFIS), the Regional Development Department of the Central Bank has taken the lead in implementing these transformative initiatives under the Content Development and Harmonisation Pillar of the Financial Literacy Roadmap. This roadmap is designed to transform Sri Lanka’s financial education landscape by establishing a unified, nationally coordinated approach that replaces fragmented efforts with standardised, high-impact programs reaching every corner of the nation. 

At the heart of the launch lies Sri Lanka’s first comprehensive Financial Literacy Curriculum; a meticulously crafted educational framework that represents extensive consultations with key departments of the Central Bank and external subject matter experts, ensuring accuracy, contemporary relevance, and practical adaptability. The curriculum encompasses knowledge pillars: Economic and Financial Environment, Personal Finance, MSME Finance, Digital Literacy, Financial Consumer Protection, and Tax Literacy, creating a framework that forms the foundation of sound financial decision making. This standardised resource will serve as the backbone for financial education and public awareness campaigns ensuring consistent and high-quality learning experience. This milestone was achieved with the generous financial and technical support of the United Nations Development Programme (UNDP) in Sri Lanka and in close collaboration with the University of Kelaniya.

Complementing the curriculum, Central Bank released two compelling educational video series, developed with the support of the UNDP in Sri Lanka and the Japan International Cooperation Agency (JICA), that address pressing financial challenges such as over-indebtedness, poor savings habits, and financial scams. 

The Central Bank extends an invitation to media institutions, educators, content creators and community leaders to join this national movement by amplifying these vital messages and adapting them for their specific audiences and platforms.

To ensure sustainability, Central Bank has launched the Certified Trainer in Financial Literacy (CTFL) program, developed in partnership with the Institute of Bankers of Sri Lanka (IBSL). This program is designed to produce 100 qualified trainers annually, particularly from the banks and public sector institutions, equipped with standardised methodologies and resources to deliver consistent, impactful financial education to communities across the island.

The launch was further distinguished by the signing of a Memorandum of Understanding (MoU) with the University of Kelaniya, cementing a strategic partnership that will drive continuous innovation and research in financial education. This collaboration represents the Central Bank’s commitment to evidence-based approaches and academic rigor in all its financial literacy endeavours.