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A new General Manager CEO for NSB

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Ms. Shashi Kandambi

Ms. Shashi Kandambi, a leading professional in the banking sector, has assumed office as the 19th General Manager/CEO of National Savings Bank (NSB) on 10th January 2024.

Ms. Kandambi was the Senior Deputy General Manager of International Banking at Sampath Bank, where she had a long-standing and successful career. Her banking experience spans over 35 years including 10 years in Corporate Management. She has a proven track record of successfully developing and executing strategic plans, managing financial resources, risk mitigation, and maintaining strict corporate governance standards.

She also has expertise in customer focus, innovation and technology, regulatory compliance, and crisis management. The positions held by her at Sampath Bank include Senior Deputy General Manager – Corporate Banking, and Deputy General Manager – Credit.

She holds an MBA from the Post Graduate Institute of Management, University of Sri Jayewardenepura, a Post-graduate Diploma in Business and Finance from CA Sri Lanka, and a Diploma in Banking from the Institute of Bankers Sri Lanka. She is a director of the Institute of Bankers SL. She is also a past President of the Association of Professional Banks, Sri Lanka.

A simple ceremony was held at the Bank to mark the occasion. Bestowing religious blessings, Chief incumbent of Bambalapitiya Vajiraramaya and Anunayake of Amarapura Sri Dhammarakshitha Nikaya, Most Ven. Thrikunamale Ananda Thero emphasized that the concept of saving, and thrift is significant to empower the country as well as the individuals financially, and National Savings Bank, which carries the mandate of inculcating the habit of saving, since its inception, immensely contributes towards ensuring the financial security of the nation. Most Ven. Thrikunamale Ananda Thero further observed that Ms. Kandambi, as the New General Manager/CEO of National Savings Bank, will strengthen its mission of bringing the population under the savings net.

Addressing the gathering, the Chairperson of the Bank, Dr. Harsha Cabraal PC, reminded us that as a Bank and individuals, we have tread upon a difficult path and now reached the year, 2024, passing yet another year full of challenges, grievances, and hardships.

The employees of the Bank have been the pillar of strength behind the Bank’s resilience and success. Dr. Cabraal warmly welcomed Ms.Kandambi to the NSB family and invited to join hands with the excellent team of employees to take the Bank to greater heights.

Ms. Shashi Kandambi, as the new General Manager/CEO, addressed the gathering and noted that NSB, having more than 4000 service points can achieve a competitive edge, by maintaining the human connection in the service offered by the Bank, while ensuring that the technology is in the forefront of our strategy. She guaranteed her strong commitment and will towards steering the Bank amidst challenges to realize corporate goals. Members of the Board of Directors, Corporate and Executive Management of the Bank, and representatives of the trade unions were present at the event.



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Cabinet approves redrafting of State Assets Management Act

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Approval has been granted at the Cabinet meeting held on 22.07.2024 to publish the draft bill of State Assets Management Act in the government gazette notification and thereby present it to the Parliament for its concurrence.

However, the draft bill couldn’t be passed in Parliament as a result of the Parliament being dissolved in the month of October 2024.

Thereafter, the draft bill was subject to further inspection by a
committee appointed which comprised of officials and authorities on the subject.

The said Committee has recognized the amendments to be made and a fundamental draft has been prepared including the proposed amendments.

Accordingly, the Cabinet of Ministers approved the resolution furnished by the President in his capacity as the Minister of Finance, Planning and Economic Development to suspend further activities regarding the draft bill of State Assets Management Act published in the extraordinary gazette of 02.08.2024, and to direct the Legal Draftsman to prepare a draft bill based on the fundamental draft prepared by the subject specialists’ committee.

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Cooperative Employees Commission Act No. 12 of 1972 to be amended

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Considering the compliance of the Cooperative Societies’ operations with the concurrent socio – economic circumstances as well as the changes in the common law, the requirement of amending the Cooperative Employees Commission Act No. 12 of 1972 has been recognized.

A fundamental draft including proposed amendments based on the experience gained by that Commission as well as the opinions and proposals of Cooperative societies, their director board members, cooperative employees and other interested parties has been prepared.

Accordingly, the Cabinet of Ministers granted approval to the resolution furnished by the Minister of Trade, Commerce, Food Security and Cooperative development to provide instructions to the Legal draftsman to prepare a draft bill to amend the Cooperative Employees Commission Act No. 12 0f 1972, based on the said fundamental draft.

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Dilki Wathsala Marambage appointed as Director General of the Department of Technical Education and Training

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The Cabinet of Ministers granted approval to the proposal forwarded by the Prime Minister in her capacity as the Minister of Education, Higher Education and Vocational Education to appoint Mrs. Dilki Wathsala Marambage to the post of Director General of the Department of Technical Education and Training.

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