Associate Professor of Banking and Finance, Dr Nirmala Lee, has been appointed an honorary Visiting Faculty and Scholar at New York University.
Date: 21 May 2015
Based in London Met’s Guildhall Faculty of Business and Law, Dr Lee is an expert in several fields of banking and finance including personal finance and financial literacy. It is her research in this area that led to this particular recognition.
Dr Lee gave a presentation and a workshop on how advertised loan rates can differ from their true rates. The presentation titled Could a loan rate of 4% actually be 8% or even 164.8 million%? The Importance of Being Financially Literate analysed the UK loan market, taking into account lenders’ charges and fees and the terms of compounding interest.
“It is an absolute honour to be recognised by such a renowned and global institution,” commented Dr Lee.
“Personal finance is such a complex area and its issues are faced by millions across the world everyday. It is great to see a subject like financial literacy given such prominence.”
New York University (NYU) is home to one of the oldest and most prestigious business schools in the world, regularly ranked as one of the world’s top twenty business schools.
Dr Lee has links with institutions across the globe having previously presented papers in the USA, Spain, Cuba, Czech Republic, and Cyprus. She has also been a visiting lecturer at universities and bank training centres in Doha, Nice and Poitiers.
The subject of her latest presentation, is included in a special module she has developed on personal finance which was funded by the Financial Services Authority (FSA), now the Financial Conduct Authority (FCA), which is taught on London Met’s BA Banking and Finance course and also open to all courses across the University as an option module.
The innovative ‘Competency based Action Learning (CoBAL)’ curriculum that she had developed for facilitating more effective financial decisions was recognised by the FSA as a ‘unique idea’ in their ‘National Strategy for Financial Capability in Higher Education’ and disseminated to all universities as an exemplar for raising student interest and enthusiasm for personal finance.