Sri Lanka Original Narrative Summary: 11/11

Date:

  1. International Cricket Council suspends SL Cricket’s ICC membership with immediate effect: determines SL Cricket is in serious breach of its obligations as a Member: says SL has violated the requirement to manage its affairs autonomously & ensure that there is no Govt interference in the governance, regulation &/or administration of Cricket in SL.
  2. World Bank approves USD 150mn under the “Financial Sector Safety Net Strengthening Project” to strengthen the financial & institutional capacity of SL’s financial sector safety net, with the focus on the Sri Lanka Deposit Insurance Scheme: the SL Deposit Insurance scheme which has brought significant relief to hundreds of thousands of depositors in failed finance companies, was established in 2010 by then CB Governor Ajith Nivard Cabraal.
  3. Recently appointed Chairman of the Central Environmental Authority Supun S Pathirage and 2 others arrested by the Bribery Commission while accepting a bribe of Rs.10mn from a businessman.
  4. Agricultural and Agrarian Insurance Board data indicates that 11,757 acres of paddy fields which were about to be harvested in the last Yala season, have been destroyed by floods caused by heavy rains.
  5. Minister of Foreign Affairs & former Justice Minister Mohammed Ali Sabry says SL’s court system needs to be urgently digitised in order to position SL as an attractive destination for foreign investments & to uphold the integrity of SL’s judiciary,: also says the IMF diagnostic report on SL has analysed how SL’s delays in justice have affected the economy.
  6. Colombo Stock Market’s ASPI gains 82 points (0.76%) during the week: turnover averages Rs.1,589mn, improving from Rs.690mn in the previous week.
  7. Super luxury cruise ship “AIDAbella” registered in Italy, docks in Sri Lanka: this cruise ship has the capability of transporting 1,900 tourists & 730 crew members, & consists of 1,025 guest rooms on 12 decks.
  8. Committee on Public Enterprises Chairman Professor Ranjith Bandara says SL Cricket Board has been summoned before COPE on 14 November: allegations made by the Minister of Sports Roshan Ranasinghe that the SLC had spent over Rs.34mn as fees for lawyers, & the accusation that a group of officials made efforts to flee the country after a purported fund transfer of USD 2 million, are likely to be taken up at the COPE inquiry.
  9. Chief of Cricket Selectors Pramodya Wickramasinghe says a conspiracy by a certain group was a reason for the national team’s poor performance at the ICC Men’s Cricket World Cup 2023: promises to reveal details of everything that happened with the SL team at the World Cup.
  10. The SL Cricket team returns to the country amidst tight security after their dismal performance at the ICC World Cup: leave the airport in their private vehicles despite SLCricket arranging transport for them: the team won only 2 matches of the 9 matches played at the Group stage.

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