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| Sunday, 29 January 2006 |
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CTM program to develop quality professionals ICFAI Education Lanka (IEL) launched a Certified Treasury Management (CTM) program in Sri Lanka. The program is offered on the distance learning mode and covers all the major areas in treasury, forex management and risk management, leading to the designation of certified treasury manager. ICFAI Vice President Sanjay Ramchandani told a press conference that the CTM program will develop quality professionals to suit the current global business environment. Under globalisation changes are taking place in treasury and forex management and CTM will prepare professionals to face new challenges. Member of the board of governors of ICFAI N.J. Yasaswy explained the present trend in Indian education. In all states of India private universities are coming into operation. Maharashta, Uttar Pradesh and Rajastan States are now preparing legislation to clear the way for private investment in higher education. It is expected that six or seven States will bring legislation to open private universities during the next 12 months and at least over 25 States will open higher education for private investment in the next three to five years. After 20 years since its inception our university, ICFAI has become one of the largest universities in India. At the beginning people asked many questions about private universities, compared them with government universities and asked whether the government accepts the degrees and diplomas offered by the private universities. A knowledge driven service economy needs a talented pool. With a limited budget the government can't satisfy primary, secondary and treasury education at the same time. The government has recognised the importance of public-private partnership in higher education. It is difficult to convince governments on the importance of private investment in education and this is more difficult in India. But in a democracy, you will have to wait till the environment permits. Increasing the aspirations of the people will create opportunities for private investment in education and then no one can stop the trend. Today, in a market-driven economy companies do not ask government recognition of educational institutions and only a certificate of participation is enough to secure an excellent job, he said. Yasaswy said that there is motivation to enter private universities. Banks are giving educational loans on very liberal terms, at times, he said. Yasaswy pointed out the success in Andra Pradesh in transforming agro economy to a knowledge driven service economy by educational reforms. Fifteen years ago the state government initiated the process. Today there are 1,000 degree colleges, 250 engineering colleges, 20 universities, 25 medical colleges and 200 teacher training colleges for an 80 million population in the State. Unless you create a talented pool you can't do this transformation. However, this boom in the Northern States cannot be seen in the Southern States of India, because still there is adequate investment on education, Yasawy said. As the economy becomes more market driven treasury management becomes an important and globally recognised profession. Countries are relaxing regulations on foreign exchange. Treasury management was earlier done by Central Banks. But today every
company has to do it, he said. (GW) |
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