CIMA introduces new payment method

Despite the rapid depreciation of the Sri Lanka rupee, more and more students are seeking a foreign professional qualification which require costly foreign cash.

“Inflation has moved from six percent in January 2004 to about 18 percent today. The cost of funds affected by the escalating interest rates which was below eight percent (treasury bill rate) in 2004 is at 17 percent today and the exchange rate if a sterling pound which was around Rs.170 in December 2003 is at Rs.226 today. But more and more students join CIMA, because there is clearly a desire to obtain a recognised professional qualification,” Bradley Emerson, CEO CIMA Sri Lanka Division said.

He said that this was the main reason behind introducing the preferential finance packages with American Express, Sampath Bank and Seylan Bank is to help CIMA students and members to manage the financial investment of undertaking this professional qualification.