Capital market thriving

Sanjeevi Jayasuriya

The capital market in Sri Lanka is thriving today making record gains turning a new chapter in the economic development in the country. In this backdrop Financial Service Academy (FSA) as a premier capital market education provider has assumed the responsibility of gearing the capital market players with the essential knowledge, skills and professionalism require to face the new challenges posed by the fast growing and dynamic capital market in Sri Lanka, FSA Director Dr. Harendra Dissa Bandara told Daily New Business.

The programs conducted by the FSA cater to four segments namely professionals (intermediaries), existing and potential investors, issuers (listed companies) and market institutions.

The Certificate in Capital Market (CCM) and the Registered Investment Advisor (RIA) Certification are key features in the qualification framework that is specially designed for the capital market professionals, he said.

This will ensure that a standard level of proficiency to perform their job functions will be maintained at all times which is a prerequisite for safeguarding the interest of the investors and developing the capital market to function at an optimal level, he said.

The Securities and Exchange Commission (SEC) of Sri Lanka has directed that obtaining the RIA Certification is a mandatory requirement to function as an investment advisor in member firms of the Colombo Stock Exchange. The CCM spanning for a time period of 25 weeks includes a comprehensive syllabus that covers the core areas of Equity Securities, Debt Securities, Ethics and Securities Regulations in Sri Lanka, he said.

Another component in the qualification framework program - continuous professional development programs will be held in the forms of seminars and workshops for capital market professionals to constantly access and upgrade themselves with the latest trends in the industry.

The Diploma in Capital Markets will commence shortly for those who have successfully graduated from the CCM program, he said.

With in the next three years the capital market will have a very high growth.

The country needs to transform from fund saver to investor society and a paradigm shift is necessary to facilitate this process. The investors have to take certain risks and move away from traditional saving instruments like the banking sector, he said.