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DateLine Wednesday, 8 October 2008

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EDUCATION / NEWS

UGC should encourage foreign students - Dean

“The inability to accommodate international students to the Colombo University is a lost opportunity to the country .On the other hand the State has not been able to give opportunity to affordable parents’ children to enter the university and as a result they go abroad,” Dean Faculty of Management and Finance Dr. P. S. M. Gunaratne told the Daily News Business.

The country is losing huge amounts of foreign exchange as a result of this unfortunate situation. There is a huge potential to get international students if the University Grant Commission (UGC) permits.


Dr. P. S. M. Gunaratne

However poor people are also paying taxes for somebody else without their knowledge. Therefore a kind of rationalisation in the system is required,” he said.

Elaborating on the quality of the MBA programme at the University of Colombo he said the faculty maintains constant relationship with prospective employees for assignments to find facts from the industry. Unlike in the earlier days the faculty gives marks for assignments where they get natural exposure.

Visiting Faculty with PHD qualification come from the industry to keep up the standards. Another significant thing is that there are enough employment opportunities for the students of the Management Faculty. The Faculty runs three types of courses, discipline, environmental and skills.

He said private sector service economy is expanding and they need a lot of people and it is necessary to train the people. The programme helps to improve skills and knowledge and the participants pay for it.

The Faculty of Finance and Management is the youngest Faculty of the University of Colombo established in 1994 to cater for the increasing student population and rapidly growing needs of the Sri Lankan business community.

During the last few years the undergraduate population of the Faculty has grown rapidly. In 2007, the total number of undergraduates registered in the Faculty exceeded 1600, according to Dr. Gunaratne.

The Faculty has six academic departments, namely Department of Accounting, Business Economics, Finance ,Human Resource Management , Marketing and Management and Organisational Studies. In addition to the departmental structure, which provides academic leadership in different disciplines, the Faculty has created a separate division. Post Graduate and Mid career Development to coordinate all its postgraduate and extension programmes conducted by the Faculty.

The EDUNIVERSAL listed the Faculty of Management and Finance, University of Colombo among the 1000 best worldwide business schools(2008). It is the only Management Faculty Institution in Sri Lanka which reached this cardinal height in academia.


Ceylinco Sussex College Bandarawela expands

September 12, 2008 marked yet another milestone of the Ceylinco Sussex College Branch of Bandarawela as the foundation stone was laid for the new wing of the college. The project worth Rs. 70 million was initiated by Deputy Chairman of Ceylinco Educational and Financial Services K. A. S. Jayatissa in order to facilitate the students with a fully fledged, four storied building complex for the growing student population of CSC - Bandarawela.


Laying the foundation stone for the new wing.

Inaugurated on the third of October 2005, CSC - Bandarawela has redefined English Medium education in the region being the pioneer in bringing the local curriculum in the international language for the Sri Lankan students.

A part of the well reputed CSC islandwide network that is well equipped with all academic facilities: A skilled language teaching unit, fully geared computer labs and sporting facilities, CSC - Bandarawela is the first one of its kind in the district. Seasoned academic staff is stationed even at the off bound branches such as this with exceptional lodging facilities.

In the year 2007 and 2008 the talented students of CSC Bandarawela managed to secure the positions of champion and runner up in track and field category as well as High Jump category in zonal and provincial levels.

Students of the college has also demonstrated outstanding performance in Chess, Music and English langauge competitions in zonal, provincial and all island levels.

A feature that demarcates the innovative perception of the college - “Link Language system” operates within CSC Bandarawela as well, in which it is mandatory for each student to learn another language other than the mother tongue.

For instance all Sinhala students are to learn Tamil while it is compulsory for the Tamil students to learn Sinhala. This certainly breaks the ice between students belonging to different racial and cultural backgrounds at a very early age.

Ceylinco Sussex College is an ISO 9001:2000 certified institution and a National Productivity Award Winner consecutively for years 2006 and 2007. Their mission is to create Global Personalities out of Sri Lankan students with a Sri Lankan identity while preserving their cultural heritage and values.


ICBT Campus - Graduation 2008

ICBT Campus held its annual graduation ceremony at the BMICH recently with over 450 students graduating in areas such as Computing, Business Management, Master of Business Administration, Teaching Technology, Montessori Teacher Eduction and Quantity Surveying.

The graduation ceremony was attended by Professor Michael Driscoll, Vice-Chancellor, Dr. Terry Butland Deputy Vice-Chancellor, Prof. Richard Comely, Prof. Raj Gill all from Middlesex University UK. Ms. Monika Borek, from Modern Montessori International - Singapore, Ishan Siddique, Country Manager/Edexcel International UK and Jagath Alwis Deputy Chairman, Ceylinco Education Group.

ICBT Campus is the leader in private sector education sector in Sri lanka offering a range of educational programmes in association with some of the best universities and educational service providers in Australia, UK. The main ICBT Campus is located in Mount Lavinia with Branches in Bambalapitiya, Kandy and Matara. All Campuses feature state-of-the art facilities providing the best learning experience to students.


PLC Islamic Financial Services Unit a success

Islamic Financial Services Unit enjoyed an excellent growth rate in its operations and customer base over the past three years. Of the Sharia complaint product range, the Ijarah or Islamic leasing achieved an outstanding record of success.

The Ijarah facility is based on the principle of the financial institute purchasing an asset for its customer and leasing it to him over a specified period of time with the promise that at the end of the period, the institution will either sell or gift the good to the customer.

Ijarah revenue stood at Rs. 105.5 million last March with a Gross Receivable Portfolio exceeding Rs. 902 million that covers over 370 active vehicle contracts, making PLC the market leader in Islamic leasing.

Islamic Financial Services Unit (IFSU) of People’s Leasing Company (PLC) was established in October 2005 and commenced operations in January 2006, as a window office of its large and well established holding company PLC.

Today, the unit claims unrivalled success as a customer driven entity which provides innovative Islamic financial solutions that are in compliance with the Islamic doctrine, also known as Shari’ah rulings on finance, investment and trading.

PLC-IFSU also initiated Mudharaba investments whereby the investor provides capital to the entrepreneur (IFSU) in order to undertake business under the principle of profit sharing on a pre-agreed basis.

Other Sharia compliant facilities include Murahaba or cost plus financing and Bai Bithaman or deferred payment sale. Pipelined products designed to cater the rural sector, including microfinance facilities are currently being developed by the Shari’ah Supervisory Board of PLC, which consists of the islands leading Islamic scholars.

The Sri Lankan market for Shari’ah compliant instruments remain attractive among both the Muslim community, who are at the fore of many business activities.

With the anticipated regulatory changes expected to take place in the near future, Sri Lanka is well placed to tap the surplus oil revenues from the Middle East under Islamic financial facilities. This industry continues to enjoy unprecedented growth in most part so the globe that has rapidly accelerated since the turn of the new millennium.

 

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