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| Tuesday, 5 August 2003 |
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CIMA goes to India with Lanka as its base By Shirajiv Sirimane The Chartered Institute of Management Accountants (CIMA) of the United Kingdom has decided to spread its operations to India, using Sri Lanka as its base. According to CIMA Director of Education, Robert Jelly who was in Sri Lanka for a brief visit, India has a huge untapped market and at present the country is being serviced from Sri Lanka. "However, we are not planning to be all over India but have selected Mumbai and New Delhi since the Indian government recently relaxed some of their regulations with regard to foreign education institutes opening their branches in their country." Robert who served as the head of business studies in Dundee, Scotland for 20- years said that in Sri Lanka, a student who passes out as a CIMA qualified person could find employment almost immediately. "With experience the person could expect a monthly salary of nearly Rs. 50,000." He said that Sri Lanka's success rate in this course is very good and he attributed this to the motivation of the students and very good tuition they receive at private educational institutions in Sri Lanka. "Students know that if they study hard they have a ready made job which brings them high returns and this alone is a good motivation factor." He said Sri Lankan students' pass rate at the fundamental and intermediate levels is around 35% and in countries such as Malaysia it is around 20%. He said that in the final level Sri Lanka has a success rate of nearly 20% while in Malaysia it is near the 10% mark. He said in UK, it is 40%. He said that Sri Lanka has won many world prizes and last year Sri Lanka won 17 world awards. Robert who is on his second visit to Sri Lanka said that Sri Lanka has the third largest membership base after the United Kingdom (80,000) and Malaysia. (8,000). He said that one reason for the Sri Lankan student base to increase is that at least 60% of local members have taken to CIMA courses after their Advanced level examinations. "In UK it is the other way round with 60% of University graduates joining us." He said that CIMA has now decided to encourage more students to take to this area since there are so many employment opportunities going abegging. Sri Lanka set up a Ceylon Association of Cost and Work Accountants in 1965 and it was converted to an Institute in 1972. In 1988 it became a member of the CIMA of UK. The CIMA Sri Lanka Division deals with over 1,500 members and 7,500 students in Sri Lanka. The Information Resource Centre of CIMA Sri Lanka Division electronically caters to the growing information needs of its members, students and corporate members for up to date, customised information for business, examination and personal development purposes. CIMA commenced its operations in 1919 and today, it is the largest globally recognised professional body in Management Accounting with its Head Office in the UK. It is spread in 120 countries and has a membership of over 60,000. |
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