Controversial Deputy Governor retires from CBSL

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One time most influential Deputy Governor of the Central Bank of Sri Lanka (CBSL) Dhammika Nanayakkara has decided to retire.

Accordingly, the Monetary Board has decided to conduct interviews for two vacant posts for Deputy Governors of the CBSL.

Deputy Governor of the CBSL Mahinda Siriwardena recently took over as the Secretary to the Ministry of Finance on a full time basis.

Accordingly, Nanayakkara is retiring from the CBSL service from 1 May due to health reasons, officials said.

He was the most loyal Deputy Governor of former CBSL Governor Ajith Nivard Cabraal in recent years, officials say.

Accordingly, a committee headed by Nanayakkara was appointed last month to oversee Sri Lanka’s discussions with the International Monetary Fund (IMF).

Nanayakkara returned to work on 18 April after spending over two weeks with his family members in Australia for the Sinhala New Year season.

Nanayakkara has over 28 years of experience in the CBSL especially in the areas of supervision and regulation of banks, foreign reserves management and international operations, domestic operations, macroprudential surveillance, and public debt management. Prior to the appointment as a Deputy Governor, Nanayakkara held the position of the Assistant Governor in-charge of Public Debt, Regional Development, Financial Consumer Relations, and Staff Services Management Departments of the Central Bank.

Nanayakkara holds a Master of Science degree in Finance from the American University, Washington DC and a Bachelor of Science degree in Business Administration from the University of Sri Jayewardenepura. He is a fellow member of the Institute of Certified Management Accountants of Sri Lanka (FCMA), Associate member of the Institute of Chartered Accountants of Sri Lanka (ACA) and a Certified Financial Services Auditor of the Institute of Internal Auditors of USA (CFSA).

By Ishara Gamage