It is some time that I made a post for last. I was stuck with my exams last couple of weeks and could not spare time to make a comment.
As a Banker in Sri Lanka, the only paper qualification that is recognized is the Certificate in Banking and Finance and Diploma in Banking & Finance which are held by the Institute of bankers of Sri Lanka. At some banks this qualification is vital for career development but some banks don't encourage so much as all Bank employees do assume that they have life long jobs in this industry! (atleast in Sri lanka!) Nevertheless, many are doing these exams to get a qualification and well that is exactly what I'm doing in a way. I do need a banking qualification to go for my next promotion and I'm working for that!
But I assure that the teachings are much more typically Sri Lankan style and most are not relevant to the day to day banking industry other than Laws and regulations. Marketing and management subjects are out of date and they haven't given enough notice for that. But as it is the only qualification, most intend to follow this. But the practicality is doubtful..
Tuesday, March 31, 2009
Tuesday, March 10, 2009
Negative IDR.. Country is going down.
It has been a while since I posted last but due to too many reasons I couldn't neatly find a time gap to occupy myself in writitng a note.
In the meantime many things caught my attention which I thought I should view my ideas during the last week or so. One such thing was that Fitch ratings, the international rating agency, has revised its rating on IDR of our country from 'stable' to 'negative'. This created a bad sign of cyclone in the Government officials as they denied this negative rating. The pin point was that the global crisis of credit and the lack of liquidity was creating them to spend more foreign currency than they used to! Well, they obviously have forgotten why the Central Bank of Sri Lanka is standing there.
Ultimately the current situation will create more debtto this country and the future will be more devastating than it should be. Unless the CBSL act independantly (without influence from Government that is) and with the aid of the intelectuals, this crisis should be overcome. If not the circumstances will be much more serious and ultimately the general public may be the final deprived group.
In the meantime many things caught my attention which I thought I should view my ideas during the last week or so. One such thing was that Fitch ratings, the international rating agency, has revised its rating on IDR of our country from 'stable' to 'negative'. This created a bad sign of cyclone in the Government officials as they denied this negative rating. The pin point was that the global crisis of credit and the lack of liquidity was creating them to spend more foreign currency than they used to! Well, they obviously have forgotten why the Central Bank of Sri Lanka is standing there.
Ultimately the current situation will create more debtto this country and the future will be more devastating than it should be. Unless the CBSL act independantly (without influence from Government that is) and with the aid of the intelectuals, this crisis should be overcome. If not the circumstances will be much more serious and ultimately the general public may be the final deprived group.
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