Start Submission Become a Reviewer

Reading: Exploring Financial Literacy Programmes Delivered by the Sri Lankan Microfinance Institution...

Download

A- A+
Alt. Display

Articles

Exploring Financial Literacy Programmes Delivered by the Sri Lankan Microfinance Institutions: A Case Study Approach

Authors:

W. G. I. D. Premarathne,

University of Kelaniya, LK
About W. G. I. D.
Department of Finance
X close

R. Abeysekera

University of Kelaniya, LK
About R.
Department of Finance
X close

Abstract

According to the Global Financial Literacy Survey done by Standard & Poor’s Ratings Services, in 2014 only 35% of adults were financially literate in Sri Lanka. However, Microfinance Institutions (MFIs) were struggling to improve this rate and there is a dearth of research covering this critical area utilizing a qualitative approach. Thus, the purpose of this paper is to focus on the critical, yet an under-researched dimension of Microfinance (MF), the intercession of MFIs in delivering FL to the MF clientele focusing on profiles such as delivering channels, importance, constraints and strategies to address. The multiple case study method was used in this study as the research methodology.  The data were gathered from a purposive sample using in-depth interviews. The findings show that channels of delivering Financial Literacy  (FL) are Social Mobilization Programmes, seminars, training programmes, community committees, and credit societies, and the importance of delivering FL is; enhancement of human capital, the sustainability of industry and firm, upgrade new venture survival, client protection,  social and economic empowerment and development. Further, the barriers to deliver FL; budget, industry competition, in active participation, attitudes of clients, the contribution of inactive regulatory bodies and external barriers were investigated with the strategies adopted in addressing barriers; community awareness, motivational strategies, regulatory framework and cost addressing strategies. These findings contribute to both the knowledge and practice domains. They have implications for policy makers in paying attention to make a financially literate clientele in the MF discipline.
How to Cite: Premarathne, W.G.I.D. and Abeysekera, R., 2020. Exploring Financial Literacy Programmes Delivered by the Sri Lankan Microfinance Institutions: A Case Study Approach. Kelaniya Journal of Management, 8(2), pp.92–111. DOI: http://doi.org/10.4038/kjm.v8i2.7606
Published on 03 Jan 2020.
Peer Reviewed

Downloads

  • PDF (EN)

    comments powered by Disqus