By: Staff Writer
December 16, Colombo (LNW): The newly formed government has prioritized financial stability and sustainability in Sri Lanka’s banking and finance sector by appointing highly qualified professionals as chairpersons and board directors of state-owned banks.
These appointments, based solely on merit, aim to provide competent leadership to effectively navigate the sector’s challenges and opportunities, according to a senior official.
Notable recent appointments include professional bankers such as Kavinda De Zoysa as Bank of Ceylon Chairman, Prof. P.N.D. Fernando as People’s Bank Chairman, P.J. Jayasinghe as HDFC Bank Chairman, and Lasantha Fernando as RDB Chairman.
These changes reflect the government’s focus on reshaping the sector under the visionary leadership of President Anura Kumara Dissanayake (AKD), said Dilshan Chamikara, Private Secretary to the Finance, Planning, and Economic Development Minister.
Chamikara emphasized that the reforms are built on principles of meritocracy and professionalism to achieve sustainable development.
Meritocracy, a cornerstone of the government’s vision, ensures that individuals are recognized and advanced based on their skills, achievements, and contributions rather than privilege or connections.
Decades of inefficiency and political interference have previously hampered the performance of key institutions, Chamikara stated, undermining their capacity to drive national growth.
In response, the government is empowering these institutions with leaders who demonstrate expertise, integrity, and vision.
Integrity, he added, is fundamental to building trust and credibility within governance. Alongside this, the government’s zero-tolerance stance on corruption and the misuse of public funds underpins the reforms.
Transparency and accountability are prioritized to ensure that public funds allocated to financial institutions deliver maximum value to the people.
To enhance governance and improve institutional efficiency, the government is introducing Key Performance Indicators (KPIs) along with detailed action plans featuring measurable goals and milestones.
These efforts are supported by robust monitoring and reporting frameworks to restore public confidence in the financial sector.
While acknowledging the dedication and talent of employees within these institutions, Chamikara noted that a lack of visionary leadership in the past had hindered their full potential. The reforms, therefore, aim to empower employees, enabling them to thrive and contribute more effectively to institutional progress.
The government also invites banking and finance professionals to actively participate in this mission, fostering a financial ecosystem that promotes sustainable growth and uplifts the nation.
