As the founder Head of the Department of Finance, Professor Weerakoon Banda initiated MSc in Applied Finance Degree programme in 2004. It was designed expecting graduates who will be able to work independently in their capacities in the industry, or professional practice, by applying the specialist financial knowledge that this course aims to provide. The Degree prepares students to apply advanced knowledge for professional practice, scholarship and further learning corresponding to current SLQF level 9 and 10 qualifications.

M.Sc. in Applied Finance is a practitioner- and career-oriented degree program specially designed for graduates, executives, and professionals in the discipline of finance. These postgraduate degree programs are conducted by the Department of Finance under the Faculty of Management Studies and Commerce. Postgraduate Diploma in Applied Finance (PGD AppFin) is offered as the exit strategy of the M.Sc. in Applied Finance (M.Sc. AppFin). The main objective of this program is to produce graduates with sound knowledge in applied finance. The admission requirements for both the PGD and the M.Sc. Courses are identical.