‘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.
Udayasri Kariyawasam |
Ajith Nivard Cabraal |
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.
At
a glance |
* Stock
market - one of main drivers of economy
* Regulations and ethics are important
* 2009 - a year of miracles |
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.
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