The partnership between financial services and the education system in the island has been hailed a success by an outspoken campaigner for better education about money in schools.

Alison Pask told a special graduation ceremony in Douglas: ’What has been achieved here in little over two years is outstanding.

’Seeing the financial services and banking industry work hand in hand with the education system to improve the financial wellbeing of future generations is something we can only dream of in England.

’I am truly humbled by your success.’

Ms Pask is managing director, financial capability and community outreach for the London Institute of Banking and Finance (LIBF).

She spoke as sixth form students from Ballakermeen High School joined with local bankers to celebrate examination successes at a ceremony held in the Barrool Suite, Legislative Buildings.

A total of 21 Ballakermeen students joined 17 local bankers in receiving their London Institute of Banking and Finance (LIBF) graduation certificates.

Ms Pask had this message: ’By working together, you are making a major contribution to the Isle of Man economy, improving life chances and ensuring a skilled work force that you can be proud of.’

Ms Pask also noted that ’making a huge contribution to improving financial wellbeing and social mobility on the Isle of Man was Claire Whitelegg from the Financial Services Authority who set the bar high when she supported her daughter Amber through her Certificate in Financial Education (CeFE), having shown what could be achieved.

’Ruth Kane followed in Amber’s footsteps and received the highest result in her studies which saw her in the top 1% in the UK.’

London-based Ms Pask spoke out recently when a report from the LIBF attacked the way financial education was being delivered in UK schools with fears young people will be ’woefully’ unprepared for life if improvements are not made.

She reportedly said: ’Financial education is not being given enough time in the classroom, it’s not being taught in the right context and it’s not being delivered frequently enough.

’Young people need help understanding the practicalities of managing money - day-to-day and for the long term - and teachers need support to deliver that.’

President of the local branch of the LIBF, Mark Waterhouse, addressing the successful students, said: ’You should all be very proud of your achievements today.

’You are in the vanguard of ensuring that this island remains a centre of excellence for financial services and an attractive place to do business.

’Whether you are bankers or students you are the future of this island.

’You are the leaders of the future, others are following in your footsteps.

’In addition to more bankers signing up for banking qualifications, already this academic year, another 68 students have registered for the lessons in financial education at Ballakermeen High School, nine more have registered for the certificate in financial education and 10 have registered for the level 3 certificate in financial studies with 10 more doing the same at Ramsey Grammar School.

’It is our objective to ensure that these qualifications become the norm in the Isle of Man not only for bankers but as part of the school curriculum.

’Already banks and other financial services companies and professions on the island are looking for these qualifications when recruiting.

’There is at least one individual here today who has completed the schools’ qualification and is now working in banking. I hope all of you will find success in your future careers, hopefully in banking or financial services.’