Tuesday Sep 24, 2024
Tuesday Sep 24, 2024
Thursday, 24 February 2022 00:00 - - {{hitsCtrl.values.hits}}
DhanaMaga website being launched by Chief Guest Securities and Exchange Commission of Sri Lanka Chairman Viraj Dayaratne (third from left) while (from left): Guest of Honour former National Cricket Captain Mahela Jayawardene, Asia Securities Senior Vice President Lakshini Fernando and Asia Securities Chairman Dumith Fernando look on
Asia Securities Chairman Dumith Fernando and Room to Read Country Director Shevanthi Jayasuriya exchange the MOU
By Jerome Vincent
Asia Securities Ltd. Yesterday pioneered a trilingual financial literacy initiative at assisting investors take control of their financial future, building trust and confidence to engage in financial markets.
Titled DhanaMaga, it is the first innovative online portal and mobile application. The aim of this initiative is to provide answers to all Sri Lankans on their investment related questions – from understanding, how to finance small businesses, building personal future financial plans, to evaluate and review company financial statements and selection of viable investment options for prosperity and growth.
Asia Securities is a leading investment firm in Sri Lanka, provides investment banking, research, equities and wealth management services to local and international corporate, institutional and individual clients.
On the importance of financial literacy education in fostering financial stability, Asia Securities Chairman Dumith Fernando said: “We at Asia Securities talk to business owners and individual investors every day. Therefore, we understand first-hand how crucial financial skills are in enabling people to actively participate in the economy and secure their personal financial future.
“Our Financial Literacy initiative, Dhana Maga, empowers Sri Lankans, from all walks of life, with the right resources to help finance a small business without putting themselves at too much risk or managing their money wisely by planning and investing for their families’ future needs. We are delighted to spearhead this initiative to build a strong foundation that will support the goal of the prosperity of all citizens of our beloved nation.”
Dhana Maga offers over 100 easy-to-follow, engaging videos available in Sinhala, Tamil and English languages that are suitable for any age, skill level, and stage of life. The videos can be viewed completely free via the www.dhanamaga.lk portal or by downloading the mobile application.
The Chief Guest at the launch, Securities and Exchange Commission Chairman Viraj Dayaratne PC said: “It is commendable that Asia Securities had the foresight and understanding to introduce a trilingual program to provide all Sri Lankans the knowledge to have an equal opportunity when it comes to investments and managing their finances.”
Sri Lanka has a literacy rate of 92% and the country’s financial literacy rate is 35%, when compared to an average of 65% in developed countries (S&P Global FinLit Survey). 74% of Sri Lankans have opened an account in a formal financial institution. The lack of financial education and access to finance are the primary reasons for low financial literacy levels in Sri Lanka. Further, this program is targeted to school children to increase awareness in finance literacy. Guest of Honour former Sri Lankan Cricket Captain Mahela Jayawardena said: “DhanaMaga platform is an interesting initiative that has the potential to benefit Sri Lankans of all walks of life, especially the youth. I wish the team all the best as they strive to execute their vision to improve financial literacy in Sri Lanka.”
He further stated: “Financial literacy programs are essential for sportsmen and school children to minimise mistakes to be committed in financial investments in the future.”
A highlight of the event was the first engagement partnership for DhanaMaga, with Room to Read, a global non-profit active in Sri Lanka, that seeks to transform the lives of children in low-income communities by focusing on literacy and gender equality in education. The partnership with DhanaMaga allows Room to Read to provide an important curriculum in financial literacy to more than a million participants of its Girls Education Program.
Room to Read Sri Lanka Country Director Shevanthi Jayasuriya said: “We are proud to have partnered with Asia Securities as together we have been able to set up the DhanaMaga platform but also lay the foundation for even more projects that will help benefit the youth and ultimately the nation as well. We look forward to working with them on this project and many more in the future.”
Pix by Ruwan Walpola
