Weerasinghe urges financial capability beyond account access
Financial access must translate into better financial well-being, Central Bank of Sri Lanka Governor Dr P Nandalal Weerasinghe said. He spoke at the Fin Lit Expo in Colombo on October 8, 2026, marking Financial Literacy Month 2026.
Access outpaces financial knowledge
Sri Lanka's 2021 survey with the International Finance Corporation found 58 percent of people financially literate.
The 2026 National Financial Inclusion Survey, supported by the Alliance for Financial Inclusion, found 86 percent had formal financial services access and 82 percent savings account access.
Weerasinghe called for suitable, affordable products and education reflecting incomes and circumstances.
The bank targets inflation around 5 percent over the medium term; slower inflation does not mean lower prices, he noted.
Price stability supports planning.
Under the National Financial Inclusion Strategy, financial literacy and entrepreneurship have entered the national curriculum with Ministry of Education and stakeholder support.
Shared duties for safer finance
Weerasinghe urged borrowers to assess full costs, repayment capacity and income or interest-rate changes.
Lenders must assess credit soundly, explain obligations and provide redress; weak lending damages loan quality.
Small firms need cash-flow skills and reliable records, with attention to women, youth and firms outside commercial centres.
Digital payments save time and costs but require fraud awareness, secure systems and transparent fees.
Education, supervision and consumer protection must work together.
Reach is not the test
Weerasinghe said outreach alone is insufficient to measure success.
Programmes need evidence of better planning, realistic borrowing, safer digital use and preparation for financial shocks.
He called for year-round education and partnerships, with evidence guiding resources and programme design.
Source: Financial literacy towards an inclusive economy
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