News
Trade Finance Association of Bankers holds AGM for year 2021/2022
The Trade Finance Association of Bankers (TFAB) held its 24th Annual General Meeting in April, at the Rainbow Room, Grand Oriental Hotel, Colombo following strict health guidelines owing to the COVID-19 pandemic.
The Trade Finance Association of Bankers which was formed in 1997, has been actively engaged in imparting knowledge and the required skills to its members who are Trade Practitioners by conducting seminars, lectures, discussions, workshops, trade educational tours and other activities on a wide range of topics relating to International Trade with the assistance of senior bankers who have mastered the subject in our local banks and other resource persons from various trade-related stakeholders. The Premium event of TFAB is Interbank Trade Finance Quiz and Social which promotes Trade Knowledge and Networking among its members.
TFAB provides an environment for Trade Practitioners representing all banks, to facilitate the exchange of views relating to trade, promote consistency in Trade Finance practices and to create the required skill set in the industry in supporting Trade. The membership comprises almost all commercial banks operating in Sri Lanka. The office-bearers of the Association from various banks are elected every year at its AGM. It is really fortunate to see some experienced and knowledgeable prominent veterans in the field of Trade Finance willingly sharing their knowledge and experience with new trade practitioners in all banks. The Association is backed by an Advisory Committee comprising of four senior bankers and past TFAB Presidents A. Kathiravelupillai (Inaugural President of TFAB and Former DGM –International of Bank of Ceylon), Michael Peiris (Former Head of Trade of Union Bank of Colombo PLC), Nilam Jumat (Former AGM – International of Hatton National Bank PLC), and Thushy David (Former Director, Head Global Subsidiary Coverage, Head of Trade and Cash Management Sales of Deutsche Bank), with extensive experience in the International Banking business.
Incumbent President Lawrian Somanader – Chief Manager – Heads the Exports at Commercial Bank of Ceylon PLC was unanimously elected as the President of the Association. He holds a Master of Business Administration from UK. He possesses the ICC’s advanced Trade Finance qualification – Certified Trade Finance Professional (CTFP). He is also a member of the Institute of Bankers of Sri Lanka. He counts over 30 years of banking experience that includes 27 years in International Trade-related services Imports, Exports at Commercial Bank of Ceylon PLC. He also had the opportunity of working at the Corporate Credit banking division and having served in a Branch during his banking career. Mr. Somanader had held many responsible positions in the Trade Finance Association of Bankers such as the Senior Vice President and the Treasurer..
The following members were elected as office-bearers of the Trade Finance Association of Bankers for the year 2021/2022 during the Annual General Meeting.
President – Lawrian Somanader – Chief Manager, Exports, Commercial Bank of Ceylon PLC
Senior Vice President – Rochelle Fernando – Assistant General Manager – Trade Services – Bank of Ceylon
Vice President- Shyam De Silva – Manager Operations – Centralized Trade Processing, Hatton National Bank PLC
Secretary General – K.R. Naguleswaran – Assistant Vice President, Correspondent Banking and Remittances, DFCC Bank PLC
Treasurer – Kasun Muthukuda – Manager – Trade and Supply Chain Finance, Nations Trust Bank PLC
Assistant Secretary – Indika Liyanage – Senior Manager, Trade Services, Pan Asia Banking Corporation PLC
Assistant Treasurer- Kanchana De Silva – Senior Manager – Trade Operations – Union Bank of Colombo PLC,
Council Members: Gaya Manamperi (Formerly at Sampath Bank PLC), Manjula Gunawardana(NDB Bank PLC), Neil Handapangoda (Citi Bank N.A.), Susantha Weerasinghe (People’s Bank), Tharinda Amarasinghe (Sampath Bank PLC), Niranjan Dabare (Deutsche Bank AG), K K Susantha (Bank of Ceylon), Saroja Pathirana (Sampath Bank PLC), Thilanke Weerasinghe (The Hongkong and Shanghai Banking Corporation Limited), Dilan Wijegoonawardena (Seylan Bank PLC),Shehani Peter (Standard Chartered Bank), Malithi Maheeka (Cargills Bank), Eranda Weerakoon (Doha Bank)
Immediate Past President: A. S. M. W. Kumarasiri (Assistant General Manager, Trade Finance, People’s Bank)
The newly appointed President delivering his address pointed out the role played by the TFAB to the banking industry during its last 24 years of existence. He further stated that the knowledge imparted by TFAB by way of trade seminars, workshops, quiz competitions, trainings and knowledge forums to its membership was commendable. He also emphasised the importance of the TFAB newsletter as a knowledge sharing source and requested the membership to contribute more articles in order to enhance the number of publications.
He also spoke about such challenges with resilience that the world is going through since 2020 and how the banking industry is taking up that challenge in line with changing regulatory requirements.
Finally, he thanked the previous presidents for their leadership and thanked the membership for electing him to steer the association to greater heights and pledged his commitment towards the betterment of TFAB.
The Secretary General, in his address thanked the membership for the election of the present office-bearers and the council who will steer the objectives of the TFAB in 2021 /2022.
News
Ex-lawmakers group calls for IPU’s intervention to check “irregularities” in Parliament
Association of Former Members of Parliament of Sri Lanka has requested the Inter-Parliamentary Union to inquire into, what the group calls, institutional irregularities in Parliament.
The Association cited the decision taken by the Attorney General not to appear for Speaker Dr. Jagath Wickremeratne, in a case filed in the Court of Appeal by sacked Deputy Secretary General of Parliament Chaminda Kularatne, to underscore the need for IPU’s intervention.
The following is the text of the letter signed by former JVP MP Premasiri Manage, on behalf of the Association: We write to Your Excellency on behalf of the Association of Former Members of Parliament of Sri Lanka, an independent body representing former legislators who have served the Parliament of Sri Lanka across successive administrations. The Association is committed to upholding democratic values, parliamentary traditions, institutional integrity, and the rule of law within Sri Lanka’s governance framework. It is with grave concern that we bring to your attention a series of developments that, in our respectful view, seriously undermine parliamentary democracy, administrative fairness, and institutional independence in Sri Lanka.
1. Unlawful Cancellation of Parliamentary Pensions
The present Government of Sri Lanka has, through actions that we consider both unlawful and unethical, cancelled the pension entitlements of former Members of Parliament. This decision appears to have been taken arbitrarily, without adherence to established legal principles, legitimate expectations, or due process, thereby undermining the dignity and security of those who have served in the national legislature.
2. Illegal and Malicious Interdiction of the Deputy Secretary General of Parliament
We wish to draw urgent attention to the interdiction of the Chief of Staff and Deputy Secretary General of Parliament, which raises serious concerns regarding abuse of authority and interference in administrative due process. According to material presently before the Court of Appeal of Sri Lanka (CA/Writ Application No. 109/2026), the interdiction:
• Was imposed through the Parliamentary Staff Advisory Committee (PSAC), which lacks lawful authority to exercise such disciplinary powers, rendering the action ultra vires;
• Was based on a preliminary inquiry conducted without proper legal mandate, thereby invalidating the process from its inception;
• Was not the result of an independent administrative determination, but was carried out following the direct personal intervention and influence of Speaker, Dr. Jagath Wickramaratne;
• Appears to have been driven by personal and retaliatory considerations, amounting to a malicious exercise of authority rather than a lawful disciplinary process.
Importantly, it is also noted that the Attorney General of Sri Lanka has withdrawn from appearing on behalf of the Hon. Speaker in the related proceedings, reportedly in view of serious procedural irregularities associated with the interdiction process. The Speaker has consequently retained private legal counsel. This development strongly indicates that serious legal and procedural defects exist in the interdiction process, further reinforcing concerns regarding its legality and propriety. It is therefore evident that the lawful disciplinary framework vested in the Secretary General of Parliament was bypassed, resulting in a serious violation of the principles of natural justice, institutional independence, and the rule of law.
3. Discrimination and Harassment within Parliamentary Administration
We are also deeply concerned by credible allegations of discrimination and harassment within the parliamentary administrative structure, which, in our respectful view, have arisen as a result of the interference of the present Speaker in the administrative affairs of Parliament, thereby undermining the independence of the parliamentary administration. These concerns include:
• Discriminatory conduct affecting senior officials, including the Deputy Secretary General;
• Harassment and discriminatory treatment of female staff members within Parliament;
• The resignation of one female officer due to such circumstances;
• Confirmed findings of harassment in respect of another female officer attached to the Information Technology Division, as established by a report submitted by a former High Court Judge.
These incidents indicate a disturbing pattern of administrative misconduct and a failure to ensure a safe, independent, and professional working environment within Parliament.
3. Broader Institutional Concerns
The above matters collectively raise serious concerns regarding:
• The erosion of the independence of parliamentary administration;
• Abuse of authority and concentration of power;
• Undermining of due process and established legal frameworks;
• A broader decline in adherence to democratic governance standards.
Request for Engagement
In light of the foregoing, we respectfully request that the Inter-Parliamentary Union:
1. Intervene and monitor the situation;
2. Call for reports and clarifications from the Speaker and senior parliamentary administration;
3. Facilitate independent review and observation of relevant judicial proceedings;
4. Promote accountability and restoration of institutional integrity within Parliament.
Given the IPU’s distinguished role in safeguarding parliamentary democracy and promoting good governance worldwide, we firmly believe that your timely engagement will contribute significantly to restoring institutional integrity and public confidence in Sri Lanka’s Parliament.
News
Power and Energy Minister, Ministry Secy resign over coal probe
Power and Energy Minister Kumara Jayakody and Ministry Secretary Prof. Udayanga Hemapala have resigned from their posts.According to the President’s Media Division (PMD), the two officials submitted their letters of resignation to President Anura Kumara Dissanayake this afternoon.
The resignations come in the wake of a Special Presidential Commission of Inquiry appointed to probe possible unlawful activity and financial irregularities in coal procurement and power generation.
The PMD said the decision was taken to ensure that the Commission’s work proceeds without interference or perceived influence from individuals holding office.
Minister Jayakody, in his resignation letter, noted that following the appointment of the Commission, he had requested that investigations into coal imports, since 2009, be referred to the Criminal Investigation Department (CID), describing it as part of the government’s anti-corruption mandate.
He added that the inquiry should be conducted independently and without bias, and said his continued presence in office could be perceived as an obstacle to the process.
Prof. Hemapala, in his resignation letter, said his decision was intended to facilitate the commencement of investigations and ensure a transparent and independent process, the PMD said.
The Special Presidential Commission was recently appointed to examine allegations of irregularities in coal imports and electricity generation over a prolonged period and to recommend corrective measures.
News
President appoints Commission to probe irregularities in coal imports from inception of Norochcholai
President Anura Kumara Dissanayake yesterday appointed a Presidential Commission of Inquiry to investigate alleged irregularities in coal imports and electricity generation, amid concerns over possible financial losses to the State.
The President’s Office said the Commission would examine transactions from the inception of coal-based power generation in Sri Lanka up to April 16, 2026, focusing on operations linked to the CEB-affiliated Lanka Coal Company (Pvt) Ltd., its successors, and private suppliers.
The three-member body is chaired by Supreme Court Justice Gihan Kulatunga, with Court of Appeal Justice Adithya Patabendige and High Court Judge Sanjeewa Somaratne as members. Former Ministry Secretary P.V. Bandulasena has been appointed Secretary to the Commission.
Appointed under the Special Presidential Commissions of Inquiry Act No. 07 of 1978, as amended, the Commission has been mandated to scrutinise procurement procedures, supply chains, quality testing, and operational processes connected to coal imports and utilisation.
The Commission has been tasked with the following mandates:
• To determine whether irregularities or illegal acts occurred in the procurement process for coal imports and to assess any resulting financial loss to the government.
• To investigate whether substandard coal was imported during the relevant period and to examine the entire associated workflow, including procurement, supply, quality testing, operational, and utility processes.
• To ascertain whether electricity generation using imported coal reached the expected levels of efficiency and productivity.
• To investigate whether legal or financial irregularities or illegal acts occurred during the power generation process if substandard coal was indeed utilized.
• To examine whether there were any breaches of expressed terms or conditions in these processes and, if so, whether measures such as withholding payments or other compensatory actions were taken.
• To identify the political authorities, government officials, officers of Lanka Coal Company (Pvt) Ltd, suppliers, or their agents responsible for any such incidents and to recommend future action to be taken against them.
• To propose measures to prevent the recurrence of such alleged malpractices or illegal acts in the future and to ensure proper governance and integrity.
In addition to the above, the Commission will also report on any other alleged malpractices or illegal acts related to coal importation and electricity generation, and recommend preventive measures to address such issues.
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