‘Huge potential in country’s debt market’

Sanjeevi Jayasuriya

There is a huge potential in the country’s debt market. The Stock Market is one of the main drivers in the economy. Regulations and ethics are important. It is necessary for the stakeholders to actively participate in the market maintaining a high level of professionalism, said Securities and Exchange Commission of Sri Lanka (SEC) Chairman, Udayasri Kariyawasam.

Thirty-eight students received certificates as Registered Investment Advisors and in the capital market at the inaugural certificate presentation ceremony on Friday.

A certificate in the capital market is a mandatory requirement under the Securities and Exchange Commission Sri Lanka Act No. 36 of 1987 to work as Investment Advisors in the member companies/stock brokering firms.

“We have overcome obstacles and the stage is set for accelerated economic development. We as the regulator, need to ensure that steps are taken to strengthen the regulatory measures and the high level of professionalism”, he said.

The Colombo Stock Market achieved its highest level of growth with the All Share Price Index (ASPI) gaining 3020 points and recorded over 100 percent growth on a year on year basis. It also recorded the highest market capitalization of Rs 967 million, he said.

Central Bank Governor Ajith Nivard Cabraal said that it has been a year of miracles for the stock and capital market and there is a boom in the stock market. The country is doing well and has witnessed the largest market capitalization. This is the result of a clear vision, proper political drive, dedication and commitment, he said.

It is important for more companies to be listed on the Colombo Stock Exchange to move the economy forward.

Therefore, programs of this nature help to develop the capital market and increase the level of investments that would benefit the country, he said.