• Dr. Nandalal Weerasinghe stressed the critical role of financial literacy in empowering consumers to protect themselves from financial frauds and abuses, particularly in the face of growing technological advancements.

• Enhancing financial literacy is essential to empower individuals, including future generations, with the necessary skills to make informed financial decisions and navigate the complexities of the modern financial landscape effectively.

The Central Bank Governor of Sri Lanka, Dr. Nandalal Weerasinghe, recently underscored the importance of financial literacy in safeguarding consumers against the rising tide of financial fraud and abuse, especially in light of technological advancements. He emphasized the need to empower individuals, particularly future generations, with the necessary financial skills to make informed decisions and navigate the complexities of the modern financial landscape effectively. Dr. Weerasinghe pointed out that enhancing financial literacy not only promotes individual resilience but also reduces the burden on government-funded social programs, thereby fostering greater self-sufficiency and economic independence among the populace.

Furthermore, the launch of the "Financial Literacy Roadmap of Sri Lanka" signals a concerted effort by the Central Bank to advance financial inclusivity and behavior change across the country. This roadmap provides a comprehensive framework for policymakers and stakeholders to coordinate efforts towards improving financial literacy, promoting positive financial behaviors, and empowering consumers to make sound financial decisions. With a formal mandate to promote financial inclusion, the Central Bank, alongside partners like the UNDP, is actively working to address vulnerabilities within the community and pave the way for a more financially inclusive future for all Sri Lankans.

Financial literacy vital to save consumers from abuse and fraud – CBSL | Daily News