For this initiative, NCC recognised Allianz Lanka with a Merit award in the Best Sustainability Project category. This is the first time ever that a project of this nature was introduced to Sri Lankan youth, and also the first time that the project was put forward for recognition.
Allianz Lanka was recognised at the prestigious National Chamber of Commerce (NCC) awards for the company’s corporate social responsibility (CSR) project, ‘My Finance Coach’ which increased the financial literacy of nearly 5,000 youth in about 30 schools throughout Sri Lanka. The area of financial literacy has been neglected by countries worldwide, and studies have confirmed that more and more youth struggle with debt in their daily lives.
My Finance Coach‘s aims to instruct youth on smart money management and raise their awareness of the consequences of their financial decisions. The approach arms youth with the tools needed to be financially competent citizens and create a financially stable future for themselves.
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Statistics confirm that Sri Lankans, too, are becoming increasingly more in debt to banks and financial institutions due to a lack of awareness of how to balance their needs and wants. Allianz Lanka believes that by educating teenagers on the threshold of adulthood on financial literacy this situation will be mitigated to some extend in the future.