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| Sunday, 17 July 2005 |
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ICFAI in Hyderabad to set up University here by Lalith Edrisinha
The Institute of Chartered Financial Analysts of India (ICFAI) has made a generous offer to set up a University in Colombo on very favourable terms to Sri Lanka. ICFAI will plough back its earnings for the development of tertiary level education in Sri Lanka and postings on the academic staff of the University will be open to Lankan academics who conform to the requirements set by ICFAI. The ICFAI offer is under serious consideration and if accepted will be a major breakthrough in the setting up of a parallel University system to the existing State University system to meet the ever increasing demand for placements in Universities based mainly on the results of the GCE Advanced Level examination. ICFAI set up a branch in Sri Lanka - ICFAI Education Lanka (IEL) - at Habitat House, Dutugemunu Street, Kohuwala, in October 2004. IEL provides full-time and distance learning programs at bachelor's and master's level. Sri Lanka's envoy to India High Commissioner Mangala Moonesinghe who has worked relentlessly to bring ICFAI to Sri Lanka, in a message on the occasion of establishing IEL says, "The effects of globalisation cannot be escaped and Sri Lanka, like other open market economies, is affected by world events. In such a scenario it is imperative that our workforce - not just our corporate leaders but also our senior and middle level managers are conversant with the latest thinking in business management and are aware of international issues and their impact on the national economy. ICFAI can play a valuable role in imparting knowledge to a new generation of employees, providing them with the knowledge and skills required to thrive in the new economy." ICFAI's Governing Board Member N. J. Yasaswy and other Consultants and Advisors of ICFAI network speaking to a delegation of media personnel from Sri Lanka in Hyderabad last week commended the interest shown and encouragement given by High Commissioner Mangala Moonesinghe in hastening the setting up of an ICFAI branch in Sri Lanka. ICFAI University Chancellor Dr. A. Besant C. Raj welcoming Sri Lankans to ICFAI's MBA program says "The ICFAI University has emerged as one of the largest providers of higher education and knowledge centric services in India. We are happy to set up the ICFAI Education Lanka (IEL) at Colombo, Sri Lanka. IEL is authorised by the ICFAI University to offer full-time and distance learning programs at bachelor's and master's level..." ICFAI's is an incredible success story. It was established in 1984 by seven professionals on a meagre budget of Rs. 7,000 as a non-profit educational society offering the Chartered Financial Analysts (CFA) program. ICFAI today confers degrees at bachelor's, masters and doctoral levels budgeting for a revenue of Rs. 225 crores. ICFAI centres are now spread all over India and is spreading its reach globally. ICFAI's educational program has also recognised the need to reach children from low economic backgrounds and as a welfare measure to erase social discontent has set up a Republic School at Fateh Nagar, Hyderabad offering quality education at school level for underprivileged children at minimal rates of Rs. 10-Rs. 25 per month which are waived off on occasions of dire distress. The key to ICFAIs' success has been its on-going research leading up to innovative educational programs to meet the ever changing demands of a globalised market. Lankan delegates on a press tour ably managed by Media Communications' Senior Manager R. S. Prasad were taken round some of ICFAI's vast network of educational establishments of varied disciplines in Hyderabad, Andra Pradesh. The knowledge based industry there thrives on the adherence to high quality, innovativeness and research. IFCAI's vision is 'Meritum Ethicus' implying Merit with Ethics. |
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