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
Mahindra Ideal Finance One of Sri Lanka’s Great Places to Work
Mahindra Ideal Finance is not only one of Sri Lanka’s leading finance companies, but also one of Sri Lanka’s top employers of choice, attested to by the Company being certified as a Great Place to Work for 3 consecutive years, most recently in 2021.The Company has also been recognized amongst the Best 10 companies in the banking, financial services and insurance sector in 2021 by the Great Place to Work® Sri Lanka. As a result, Mahindra Ideal Finance has attracted a diverse group of individuals at the top of their game to be a part of the Company’s various teams. Having embarked on a landmark islandwide network expansion strategy, Mahindra Ideal Finance is also creating new opportunities for aspiring Sri Lankan professionals looking to build solid careers in financial services.
Duminda Weerasekara – Chief Executive Officer said, “As we are growing our presence around the country through the expansion of our branch network, we are looking for driven and passionate people to reinforce our teams. As we have been a dedicated, caring and trustworthy employer since our inception, Mahindra Ideal Finance is the ideal platform for dynamic young professionals looking to launch or grow their careers.”Great Place to Work®, headquartered in the USA, is the global authority on high-trust, high performance workplace cultures. Great Place to Work provides the benchmarks, framework, and expertise needed to create, sustain, and recognize outstanding workplace cultures.
Daraz Cares introduces ‘Buy one Give One’ initiative – To support families in vulnerable communities
The unfolding economic crisis in the country has presented Sri Lankans with unprecedented challenges, including scarcity of essentials, escalating living expenses and deteriorating living standards. The impacts of the crisis are graver and more ominous for those in vulnerable communities, where families struggle to make ends meet amidst mounting financial difficulties.As part of its commitment to give back to the community, Daraz Cares has come forward with a social initiative that pledges support for families in vulnerable communities. The initiative themed ‘Buy One, Give One’ will support Sri Lankan families faced with financial challenges with a pack of selected daily essentials. The selected items for the ‘Buy One, Give One’ initiative are, a 1kg pack of CIC Sudu Suduru Rice,a 500g of Orient Mysoore Dhal, a 300g pack of Maggi Coconut Milk Powder, 500g of Orient White Sugar, and 500 g packs of Sunlight Lemon and Rose Detergent Powder, which are all available for purchase via Daraz Mart.
The initiative will be implemented in a manner that, each time an individual purchase any desired quantity of one of the nominated items on the Daraz app, Daraz will donate an equal quantity of the same product to a family in vulnerable communities.Daraz invites everyone to purchase a preferred quantity of the selected items via www.daraz.lk/dmart/ and become a part of the ‘Buy One, Give One’ social initiative.
DIMO partners with Allianz to provide innovative insurance scheme to its TATA customers
DIMO together with Allianz recently introduced a state-of-the-art motor insurance & claim settlement scheme designed exclusively for DIMO’s TATA customers.The partnership is focused on assisting the customers to reduce costs incurred during conducting accident repairs through exemption of the owner’s payable portion for TATA vehicles within 5 years of date of manufacture. This innovative facility also offers all TATA customers of DIMO special insurance premium rates at the time of renewal of insurance. DIMO’s TATA customers will enjoy the utmost convenience and zero hassle as both DIMO and Allianz will coordinate all tasks from towing the vehicle to the nearest DIMO-TATA workshop, quick and efficient estimation & approval process, repairing of the vehicle according to exact manufacturer’s specifications, settlement of repair bills to handing over of the vehicle to the customer in original condition.
Ranjith Pandithage, Chairman & Managing Director of DIMO, said, “This partnership will further assist us in offering an enhanced service for our valued customers. As a company, DIMO has always stood for fuelling the dreams and aspirations of the communities we serve in, and it is a pleasure to be able to offer an innovative insurance scheme at a time like this, in collaboration with Allianz.
Gany Subramaniam, CEO of Allianz Insurance Lanka Ltd, said “We are extremely pleased to be partnering with DIMO to offer a customer-centric product, ensuring a vehicle is repaired and restored with minimum hassle.”
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