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58 pc of Sri Lankan adults financially illiterate, finds survey

Colombo: A Central Bank survey has found that 57.9 per cent of Sri Lanka adults are financially illiterate.

Further, the findings imply that the level of financial literacy varies across different segments of the population, suggesting the need for targeted policy interventions, the Daily Mirror reported on Wednesday.

For instance, despite gender parity in education, the survey notes gender disparity in financial literacy.

The Regional Development Department of the Central Bank of Sri Lanka, with the assistance of the International Finance Corp (IFC), conducted the first ever countrywide Financial Literacy Survey in Sri Lanka, as part of the implementation of the National Financial Inclusion Strategy of Sri Lanka.

The key objective of the survey was to assess the level of financial literacy across the population with a view to formulating appropriate policy measures.

The survey focused on the elements of knowledge, attitudes and behaviour within the concept of financial literacy and this publication consists of the key survey findings.

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