News
Banking/Financial maestro no more
Banking consultant Ravi Abeysuriya has passed away. With a proven track record of establishing and managing several Financial Sector Institutions in Credit Rating, Investment Research Outsourcing, Investment Banking, Stock Broking and Asset Management, Abeysuriya possessed over several decades of hands-on practical experience and broad knowledge of financial market operations in Sri Lanka.
He was directly involved in recommending several financial sector reforms that have been successfully implemented, working closely with the Ministry of Finance (MOF), the Central Bank of Sri Lanka (CBSL), the Securities Exchange Commission of Sri Lanka (SEC) and the Colombo Stock Exchange (CSE).
Abeysuriya’s extensive knowledge of the regulatory and operational issues of the SEC, capital market supervision & training was amply proved by having been twice appointed as a commission member to the SEC. His understanding of Banking and Insurance was so thorough having functioned as a permanent member of the Financial Sector Reforms Committee, a Prime Ministerial Task Force, Director of Sri Lanka Insurance Corporation Ltd and a member of Board Risk Oversight Committee and Financial System Stability Consultative Committee of the CBSL and an independent director of Seylan Bank. . As the first CFA Charter holder in Sri Lanka, he played a pivotal role in founding the Chartered Financial Analyst (CFA) community in Sri Lanka, known as the “CFA Society” and acted as the first founder President. He was the laureate of the “Lifetime Achievement” award by CFA Institute, USA in 2017 for his excellent and dedicated work towards the investment management profession.
Additionally, one of his key contributions was his role as the founding member and first head of Fitch Ratings’ Sri Lanka unit. He played a fundamental role in establishing a robust credit rating system in the country during his tenure as the Managing Director / CEO of Fitch Ratings SL from 1999 to 2004.
He was also the founding Managing Director of Amba Research in Sri Lanka a pioneer global investment research outsourcing company, during the period 2004 to 2009. During his career, he authored a book titled “Financial Literacy to Achieve Your Financial Wellbeing” in a bid to promoting financial literacy amongst the general public.
From 1997 to 1999, he was the head of Corporate Finance at Jardine Fleming HNB Capital Ltd (later J.P. Morgan Chase Co), Sri Lanka. He was appointed as a member of the Presidential Commission on Finance and Banking in the capacity of a Financial Analyst where he examined the performance of the CBSL, commercial banks, merchant banks, and finance companies, with a view to recommending necessary institutional reforms. Determined the financial health of finance companies and evaluated the effectiveness of CBSL’s supervision of finance companies.
Among the many positions that he held over the years, and at the time of his demise was the Chairman – Colombo City Holdings PLC, Chairman – Sherwood Capital (Pvt) Ltd, Independent Director – Seylan Bank PLC, Independent Director – HNB Assurance PLC, Independent Director – Bio Foods (Pvt) Ltd. He was also the Chief Executive Officer / Director – Senfin Securities Limited. His remains lie at the Jayarathna Respect home. His funeral will take place at 12 noon on Saturday 28th at old Crematorium Kanatte.
News
Record 1,600 students take Russian Classical Ballet examination in Sri Lanka
More than 1,600 students sat this year’s Russian Classical Ballet Examination, the largest number ever to take part in the examination in Sri Lanka. Exams were held in Colombo from 5, to 18, October and in Galle on 10 October.
Students aged four and above came from across the island, including Colombo, Galle, Gampaha, Negombo, Matara, Kelaniya, Panadura, Wattala, Kiribathgoda, Ratnapura, Kandy, Kurunegala, Bandarawela and Badulla. They are taught by 15 dedicated teachers trained in the Vaganova method, the renowned Russian system of classical ballet training.
They were examined by Dr. Oxana Karnovich of the Moscow State Academy of Choreography, a distinguished academic and curator.
The Russian School of Ballet and Dancing was established in 2001 by Michael Ustinov, Buddhapriya Ramanayake and Mrs Chandi Aluvihare, with Mrs Galina Pleshakova as its founding instructor. Today the School is led by Director Madam Maria Popova, Counsellor of the Embassy of the Russian Federation in Sri Lanka.

News
Buddhist hierarchy demands prison perks for monk convicts
MONETABRIEF– Sri Lanka’s two most senior Buddhist chapters, Malwatte and Asgiriya, demanded special concessions for monks serving prison sentences, following the disrobing of convicted monk Ven. Galagodaatte Gnanasara in line with established procedures.
The chief prelate of the Asgiriya chapter, Most Venerable Warakagoda Sri Gnanarathana, told Prisons Commissioner Senaka Palletenna that Ven. Gnanasara, who is serving a six-year sentence for contempt of court, must be released immediately.
Prison authorities have no power to release or pardon convicts, but Palletenna told the monk in Kandy on Friday that he would convey his request to the relevant government authorities.
“There is no point in talking about this and that… The entire country has been shaken (??????? ) . He must be released,” the Asgiriya chief prelate said.
The Malwatte chief prelate, Most Venerable Thibbatuwawe Sri Siddhartha Sumangala, appeared to accept the court verdict against Ven. Gnanasara, but asked the prisons chief whether a separate section could be established for convicted monks.
Palletenna noted that a special ward for the clergy already existed at Welikada Prison.
At least 63 convicted Buddhist monks are currently incarcerated within Sri Lanka’s criminal justice system.
Meanwhile, a group of 34 Buddhist monks named in a Colombo Fort Magistrate’s Court order to vacate the vicinity of the Presidential Secretariat ended their protest and dispersed after lunch on Friday.The monks are demanding an unconditional pardon for Ven. Gnanasara, who has previously been imprisoned, making him a reconvicted prisoner.
News
Debate on NCM against Speaker postponed indefinitely
The debate on the no-confidence motion against Speaker Dr. Jagath Wickramaratne, submitted by the Samagi Jana Balawegaya (SJB), has been postponed indefinitely pending the Attorney General’s opinion on certain technical issues in the motion.
Government representatives raised the matter at a meeting of the Committee on Parliamentary Business, pointing out that several provisions of the motion required clarification and that the Attorney General’s advice should be obtained.
As obtaining the opinion would take time, the debate could not be scheduled for the next parliamentary week, parliamentary sources said.
Chief Opposition Whip Gayantha Karunatilaka said a date for the debate would be decided after the Attorney General’s advice was received.
Meanwhile, Parliament is scheduled to meet from October 20 to 23, Secretary General of Parliament Kushani Rohanadeera announced.
The parliamentary business for the week was finalised at a meeting of the Committee on Parliamentary Business held on Friday (16) under the chairmanship of Deputy Speaker Dr. Rizvie Salih.
On each sitting day, the period from 9.30 a.m. to 10 a.m. will be allocated for parliamentary business under Items 1 to 6 of Standing Order 22. Questions for Oral Answers will be taken up from 10 a.m. to 11 a.m., followed by questions under Standing Order 27(2) from 11 a.m. to 11.30 a.m.
On Tuesday, October 20, an Opposition-sponsored Adjournment Motion will be debated from 11.30 a.m. to 5.30 p.m.
On Wednesday, October 21, a resolution under the Public Debt Management Act and a Supplementary Estimate will be taken up for debate and approval from 11.30 a.m. to 5 p.m. The annual reports of five statutory institutions will subsequently be presented for approval without debate, while questions at the Adjournment Time will be taken up from 5 p.m. to 5.30 p.m.
On Thursday, October 22, the Second Reading debates on two Bills to amend the Poisons, Opium and Dangerous Drugs Ordinance (Bills Nos. 79 and 80) will be held from 11.30 a.m. to 5 p.m.
The annual reports of five statutory institutions will then be taken up for approval without debate, followed by an Opposition-sponsored Adjournment Motion from 5 p.m. to 5.30 p.m.
On Friday, October 23, the Second Reading debate on the Elimination of Rabies and Registration of Dogs Bill will be held from 11.30 a.m. to 5 p.m. A Government-sponsored Adjournment Motion will be debated during the final half-hour of the sitting.
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