Institute of Bankers of Sri Lanka (IBSL) signs MoU with Sabaragamuwa University of Sri Lanka
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The Institute of Bankers of Sri Lanka (IBSL) recently signed a Memorandum of Understanding (MoU) with the Faculty of Management Studies (FMS) of the Sabaragamuwa University of Sri Lanka (SUSL) to offer exemptions, scholarships, and a “GOLD MEDAL AWARD.”
The MoU was signed by the Director-General of the IBSL, Mr. C P A Karunatilake, and the Vice-chancellor of the Sabaragamuwa University of Sri Lanka, Prof. Udaya Rathnayaka.
Prof. Athula Gnanapala (Dean, Faculty of Management Studies, SUSL), Prof. D. G. Dharmarathne (Head, Department of Accountancy and Finance, SUSL), Mr. Achintha Ekanayake (Head, Department of Business Management), Prof. Dewasiri N. Jayantha (Department of Accountancy and Finance, SUSL), Prof. LMCS Menike (Department of Accountancy and Finance, SUSL), Ms. Miuni Shamika (Department of Accountancy and Finance, SUSL), Ms. Amani Gunasekara (Assistant Registrar), and the academic staff of the Faculty were present at the virtual ceremony.
Besides, Mr. C P A Karunatilake (Director General), Mr. G A J C Reny (Director Administration and HR), Mrs. Lakmini Siriwardena (Director – Examinations), Mr. C B Pathberiya (Director Information Technology Operations), Mrs. V S Jayasuriya (Director Member Relations), Mrs. Buddhika Godakanda (Director College of Banking & Finance), Eng. K L L Fernando (Director Facilities Management), and Manjula Wickramasinghe (Deputy Director – Administration & HR) represented the Institute of Bankers of Sri Lanka.
The MoU will be in force for an initial period of five years and may be renewed by mutual agreement between the parties.
IBSL has agreed to offer an award by way of a “GOLD MEDAL AWARD” and a scholarship to its Intermediate in Applied Banking & Finance and Diploma in Applied Banking & Finance programmes to the most outstanding student pursuing the Bachelor of Science (Honours) in Banking and Insurance degree programme in each year during the annual convocation organised by the SUSL. Moreover, IBSL has agreed to offer possible exemptions for professional programmes offered by IBSL for Bachelor of Science (Honours) in Banking and Insurance degree and programmes offered by the faculty. Further, IBSL and FMS may jointly initiate an annual international research conference on banking studies.
Simulatenously, both parties will revise the curriculum and find training opportunities for undergraduates of the Faculty of Management Studies, SUSL. IBSL and the Faculty of Management Studies will collaboratively develope the forum for contemporary issues and collaborative research projects in banking studies. Further, this MOU facilitates in enhancing the IBSL studentship by providing opportunities to engage in promotional activities.
Furthermore, IBSL and FMS may jointly host the National Banking Day (NBD) and Banking Awareness Day in the premises of the Sabaragamuwa University of Sri Lanka.
The MoU facilitates the university and the IBSL by inviting lecturers of FMS to participate in seminars, workshops, and conferences conducted by IBSL on Banking-related themes, topics, and vice-versa. Additonally, FMS shall offer its academic staff the services as resource personnel in conducting both academic and professional activities of IBSL such as study programmes, seminars, workshops, conferences, and vice-versa.
The Vice-Chancellor of the SUSL, Professor Udaya Rathnayaka, stated, “As a young university, we are excited to work with the IBSL to improve our undergraduates’ professional skills and expertise. We feel that partnerships with professional institutions are an effective method to develop young leaders of the country”.
Commenting on the collaboration, Prof. Athula Gnanapala, Dean, Faculty of Management Studies, stated that “it is indeed a great pleasure and honor to collaborate with the Institute of Bankers of Sri Lanka to uplift the country’s research, education, and social development.
We see professional partnerships as an opportunity where we cannot develop the young community through isolating them. Strategic partnerships pave the way towards a win-win.”
Director-General (DG) of the IBSL, Mr. C P A Karunatilake, stated that “the banking and financial industry in general is very dynamic and at present is experiencing unpresidented changes with the advancement of technology.”
It is also facing challenes of withstanding the completion emerging from tech giants such as Google, Amazon and Facebook which have started offering an spectrum of financial services that were traditionally offered by the banking and financial services industry. Further,he mentioned that both Sabragamuwa Unviersity and the Institute of Bankers of Sri Lanka represent the supply side of the market for qualifications related to the business of Banking and Finance, while banks and non-bank financial isntitutions represent the demand side of the qualifications.
Since the IBSL is closely associated with the industry leaders and senior professionals, it can develop an effective channel of transferring information on contemporary and emerging requirements in the industry between the SUSL and the IBSL.
Accordingly, this collaboration between SUSL and IBSL initiated with signing the MOU between the two institutions, will enable creating an inclusive environment for the benefits of aspirants searching to nurture a professional career in Banking and Financial service industries.
Finally, it will help to foster sustainable development through enhancing financial inclusion.
DG expressed the commitment of the management of institution and the staff to support promoting human capital for the industry and extended the support of IBSL in all types including both academic and professional engagements that SU expect in all possible ways.
Delivering the vote of thanks, Prof. Dunusinghe G. Dharmarathne (Head, Department of Accountancy and Finance) appreciated the efforts of all the parties in making this collaboration a great success.