Business
Sri Lankans now have access to free financial education
To take control of their financial future
Asia Securities, a leading investment firm in Sri Lanka, launched DhanaMaga (ධනමග / தன மார்க்கம்) a trilingual financial literacy program aimed at helping Sri Lankans take control of their financial future.
DhanaMaga, the first of its kind online portal and mobile application was officially launched on 21st of February 2022. The aim of this initiative by Asia Securities is to provide answers to all Sri Lankans on their money-related questions—from understanding how to finance small businesses and building personal financial plans, to understanding company financial statements and choosing suitable investment options.
On the importance of financial education in fostering financial stability, Asia Securities Chairman Dumith Fernando stated, “We at Asia Securities talk to business owners and individual investors every day. Therefore, we understand first-hand how crucial financial skills are in enabling people to actively participate in the economy and secure their personal financial future. Our Financial Literacy initiative, DhanaMaga, empowers Sri Lankans, from all walks of life, with the right resources to help finance a small business without putting themselves at too much risk or managing their money wisely by planning and investing for their families’ future needs. We are delighted to spearhead this initiative to build a strong foundation that will support the goal of the prosperity of all citizens of our nation.”
DhanaMaga offers 100+ easy-to-follow, engaging videos available in Sinhala, Tamil and English languages that are suitable for any age, skill level, and stage of life. The videos can be viewed completely free via the www.dhanamaga.lk portal or by downloading the mobile application.
The self-directed videos also allow visitors to learn at their own pace, at anytime, anywhere. The video content had been reviewed for suitability and accuracy by an independent DhanaMaga Curriculum Committee comprising of key local experts with over 70+ years’ experience in financial regulation and education.
Chief Guest, Viraj Dayaratne PC, Chairman – Securities and Exchange Commission commented on the launch, “It is commendable that Asia Securities had the foresight and understanding to introduce a trilingual program to provide all Sri Lankans the knowledge to have an equal opportunity when it comes to investments and managing their finances”.
Sri Lanka has a literacy rate of 92% and the country’s financial literacy rate is at 35%, compared to an average of 65% in developed countries (S&P Global FinLit Survey). Meanwhile, 74% of Sri Lankans have opened an account at a formal financial institution. The lack of financial education and financial access are the primary cause of low financial literacy levels.
Guest of Honor, Mahela Jayawardena, Former Sri Lanka Cricket Captain also shared his thoughts. “I would like to thank Asia Securities for inviting me as the Guest of Honour for the launch of the DhanaMaga platform, an interesting initiative that has the potential to benefit Sri Lankans of all walks of life, especially the youth. I wish the team all the best as they strive to execute their vision to improve financial literacy in Sri Lanka.”
A highlight of the event was the first Engagement Partnership for Dhanamaga, with Room to Read, a global non-profit active in Sri Lanka, that seeks to transform the lives of children in low-income communities by focusing on literacy and gender equality in education. The partnership with DhanaMaga allows Room to Read to provide an important curriculum in financial literacy to more than a million participants of its Girls Education Program.
Commenting on the signing of the MoU, Shevanthi Jayasuriya, Country Director at Room to Read Sri Lanka said, “We are proud to have partnered with Asia Securities as together we have been able to set up the DhanaMaga platform but also lay the foundation for even more projects that will help benefit the youth and ultimately the nation as well. We look forward to working with them on this project and many more in the future.”
While many Sri Lankans are economically active, they sometimes lack basic education in the key tenets of finance. This not only prevents them from reaping the benefits of their economic activity but also puts them at risk of poor financial decisions that keep them locked in debt and poverty. While the public sector may have a responsibility to address this issue, Asia Securities believes that the private sector too must play its part in enhancing financial literacy in the national interest.
visit www.dhanamaga.lk or download the Dhanamaga app
Global oil prices have risen after at least three ships were attacked near the Strait of Hormuz, as Iran continues to launch strikes across the Middle East in response to ongoing attacks by the US and Israel.
Two vessels have been struck, and an “unknown projectile” was reported to have “exploded in very close proximity” to a third, the UK Maritime Trade Operations Centre (UKMTO) said.
Iran has warned ships not to pass through the strait, which carries about 20% of the world’s oil and gas.
International shipping has almost come to a standstill at the strait’s entrance, with analysts warning that a prolonged conflict could push energy prices even higher.
In early trade in Asia on Monday, global oil prices jumped by more than 10% before those gains eased during the morning.
At 02:00 GMT, Brent crude was more than 4% higher at $76.16 (£56.53) a barrel, while US-traded oil was also up by around 4% at $69.67.
“The market isn’t panicking”, Saul Kavonic, head of energy research at MST Research told the BBC.
“There is more clarity that so far, oil transport and production infrastructure hasn’t been a primary target by any side,” he added.
“The market will be watching for signs that traffic through the Strait of Hormuz returns, which would see oil prices subside again.”
But some analysts have warned it could go over $100 in the event of a prolonged conflict.
On Sunday, the Opec+ group of oil producing nations – which includes Saudi Arabia and Russia – agreed to increase their output by 206,000 barrels a day to help cushion any price rises, but some experts doubt this would help much.
Edmund King, president of the AA, warned the disruption could drive up petrol prices around the world.
“The turmoil and bombing across the Middle East will surely be a catalyst to disrupt oil distribution globally, which will inevitably lead to price hikes,” he said.
“The magnitude and duration of pump price increases depends on how long the conflict goes on.”
The U.S. and Israeli strikes on Iran have reignited geopolitical tensions in the Middle East, stoking fears of a broader conflict that could disrupt critical energy supply routes – particularly the Strait of Hormuz, through which roughly one-fifth of the world’s oil supply flows. Brent crude has already edged higher, and global oil markets warn prices could climb toward, or even exceed, US$80–100 a barrel if hostilities escalate.
Against this backdrop, an independent economic analyst told The Island that for Sri Lanka – a small, fuel-importing economy with limited domestic energy resources – the implications could be significant.
“Sri Lanka imports over 90% of its petroleum requirements, and any sustained rise in global crude prices would expand the annual import bill, placing renewed pressure on already tight foreign exchange reserves,” he said.
Even moderate spikes in oil prices, he noted, tend to filter quickly through the domestic economy. “Higher fuel costs translate into increased transport and production expenses, which feed into inflation and erode household purchasing power. Freight charges for essential goods – from food items to industrial inputs – would also rise.”
“The Middle East remains a key source of remittances and export demand,” the analyst explained. “A large share of Sri Lankan migrant workers are employed in Gulf economies, while regional markets absorb tea and other exports. Heightened instability could weaken remittance inflows and soften demand, further straining the balance of payments.”
When asked whether the Central Bank of Sri Lanka (CBSL) might be compelled to shift policy in response, the analyst said the monetary authority faces a delicate balancing act.
“Rising import inflation stemming from higher global energy prices could push the Central Bank to maintain – or even tighten – its monetary policy stance in order to safeguard price stability and support the rupee. A firmer stance may be deemed necessary to anchor inflation expectations and preserve market confidence. The Central Bank is therefore likely to monitor inflation data closely in the coming weeks to assess whether energy-driven price pressures prove temporary or more entrenched,” he said.
Meanwhile, Ceylon Petroleum Corporation (CPC) Chairman S. Rajakaruna said that Sri Lanka’s fuel imports – sourced primarily from Singapore and India – reduce immediate exposure to supply disruptions directly linked to Middle Eastern routes. He also sought to allay public concerns, noting that the country currently maintains sufficient fuel stocks for approximately one month and that there need not be any queueing up by the public to hoard supplies.
However, the analyst cautioned that while physical supply may remain stable, global price pass-through effects are an unavoidable risk.
Meanwhile, Opposition politician Wimal Weerawansa said that official assurances of “one month’s stock” tend to unsettle the public, arguing that such statements evoke memories of past shortages and public distress.
By Sanath Nanayakkare
The Ministry of Education officially recognised LOLC Holdings PLC for its flagship humanitarian initiative, Divi Saviya, at a special ceremony held on 27th February 2026 in Battaramulla. The event marked the second time the Ministry has acknowledged the programme’s contribution to the nation’s education sector.
Group Managing Director/CEO Kapila Jayawardena presented a project update to Prime Minister and Education Minister Dr. Harini Amarasuriya, highlighting the rapid restoration of 200 schools under Phase 02 of ‘Obai, Mamai, Ape Ratai’. The schools were repaired and handed over within just 45 days, enabling students displaced by Cyclone Ditwah to safely resume learning.
Phase 02 follows a needs assessment that identified 200 damaged schools and 4,000 displaced families. Implemented with Divisional Secretariats and Disaster Management Centres, the Rs. 500 million programme has delivered Family Super Packs and school renovations across six districts.
Kapila Jayawardena stated, “It was a privilege to share these outcomes with the Prime Minister. This recognition reflects how private sector collaboration can complement government efforts during national challenges.” Plans are underway to fully rebuild select schools destroyed by the cyclone.
Oil prices rise after ships attacked near Strait of Hormuz
War photographer Paul Conroy dies as tributes paid
Allies of US in the Gulf bear brunt of Iran attacks
Dry weather will prevail in most parts of the island
Israel resumes attacks as Iran vows to avenge supreme leader’s death
CPC has enough fuel stocks
‘Dates have the highest sugar content to fight Coronavirus’
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