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Banking/Financial maestro no more

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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.



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Dr. Bellana: “I was removed as NHSL Deputy Director for exposing Rs. 900 mn fraud”

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Dr. Bellana

Interdicted Deputy Director at the National Hospital, Sri Lanka (NHSL) Dr. Rukshan Bellana yesterday (29) alleged that the powers that be moved against him for seeking the CIABOC (Commission to Investigate Allegations of Bribery or Corruption) investigation into a massive fraud at the NHSL laboratory.

Dr. Bellana said so in response to The Island query regarding the circumstances the Health Ministry interdicted him on 18 December, through a letter, as directed by the Health Committee of the Public Service (PSC) Commission. “That letter has been signed by an Additional Secretary, as Health Secretary Dr. Anil Jasinghe was overseas,” Dr. Bellana said.

Dr. Bellana stated that the government had paid for reagents, contaminated or close to expiry dates, obtained from a leading local medical supplier, since 2022. He emphasised that his complaint to the CIABOC, and subsequent complaint to the Criminal Investigation Department (CID), were entirely based on the issues raised by the National Audit Office (NAO).

Responding to another query, Dr. Bellana said that the public funds, amounting to Rs. 900 mn, had been spent on chemical reagents past expiry dates. Regardless of the intervention made by the NAO, the NHSL continued to procure supplies from the same company, Dr. Bellana said, adding that he had received the unconditional support of the civil society. Among them were Dr. Chamal Sanjeewa, President of Medical and Civil Rights Professional Association of Doctors (MCPA), President of Academy of Health Professionals Ravi Kumudesh, and leader of Mage Rata Sanjaya Mahawatta.

Dr. Bellana said that he had complained about the scam to the CIABOC in June this year.

Dr. Chamal Sanjeewa, who also lodged a complaint with CIABOC, regarding the same matter, is on record as having said in September this year that the reagents had been procured over a three-year period without the proper approval of the Medical Supplies Division of the Ministry. Dr. Sanjeewa has alleged that some of the reagents were either contaminated or close to expiry dates, while contracts had been given to a single company at unapproved prices.

Dr. Bellana said that had there been a proper system for CIABOC and law enforcement authorities to act on findings made by the NAO they wouldn’t have personally intervened in the NHSL laboratory matter. “Parliament should look into this. Did Parliament take up the NHSL laboratory matter at the relevant watchdog committee or at the Sectoral Oversight Committee that handled health?” Dr. Bellana asked.

Asked whether the letter that informed him of his interdiction gave any specific reason for the action taken, Dr. Bellana said the Ministry had found fault with him for speaking to the media. The irate ex-official said that he never hesitated to take a stand against injustice. “When former Health Minister Keheliya Rambukwella was accused of corruption, pertaining to medical procurement, I condemned the Minister. Lambasted those responsible for wrongdoings.”

Dr. Bellana said that the NAO had dealt with mega crime involving the public and private sector. “That is the undeniable truth. Parliament should look into this as public money is its responsibility. Having vowed to stamp out corruption, the NPP was allowing and encouraging those who had been making money at the expense of the sick, Dr. Bellana said.

Dr. Bellana said that as many as 10,000 tests were conducted daily at the NHSL. The racketeers had been active during Aragalaya as the NHSL and the private supplier reached agreement in 2022 and the process continued even after the last presidential election, conducted in September 2024.

Dr. Bellana said that the long delay in finalising the Auditor General’s appointment exposed the government. If those holding high political office were genuinely interested in fighting corruption, they wouldn’t have allowed that Office of AG stay vacant even for a day.

Dr. Bellana noted the tough statements issued by the Bar Association, Transparency International Sri Lanka and the Committee on Public Finance demanding the immediate appointment of AG.

Health Ministry officials were not available for comment.

By Shamindra Ferdinando

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BIA unions demand bonuses equal to five months’ basic salaries

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BIA unions, including those affiliated to political parties, are demanding bonuses equal to five months’ basic salaries.

A group of workers yesterday (29) protested outside BIA urging the Airport and Aviation Services Sri Lanka (Private) Ltd to increase their bonuses. They claimed that the Chairman of Airport and Aviation Services Sri Lanka (Private) Ltd., Air Vice Marshal (Retd) Harsha Abeywickrama, had assured them that they would be paid bonuses worth five times their basic salaries.

The SriLankan Nidahas Sewaka Sangamaya (SLNSS) of the airport, the Podujana Sewaka Sangamaya, the Pragathishili Sewaka Sangamaya, the Jathika Sevaka Sangamaya, and the SLNSS of SriLankan Airlines joined the protest.

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People warned of rising water levels at Kotmale reservoir

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The Sri Lanka Mahaweli Authority has issued an urgent safety warning to residents living along the banks of the Kotmale Oya and the Mahaweli River, as water levels in the Kotmale Reservoir are reaching maximum capacity.

According to a special weather advisory issued by the Department of Meteorology on December 26, 2025, heavy rainfall is expected in the catchment areas over the coming days.

In response, the Mahaweli Authority released a statement on December 27, warning that spill gates may have to be opened to manage the water flow.

Eng. A.M.A.K. Seneviratne, Resident Engineer and Deputy Director of the Kotmale Reservoir, stated that the opening of spill gates would lead to a significant rise in the water levels of both the Kotmale Oya and the Mahaweli River.

Areas on Alert

Residents in the following Divisional Secretariat divisions are urged to remain extra vigilant:

• Nuwara Eliya District: Kotmale West and Kotmale East.

• Kandy District: Udapalatha, Udunuwara, Doluwa, Pasbage Korale, and Ganga Ihala Korale.

Authorities have advised the public in these low-lying and river-adjacent areas to monitor the situation closely and take necessary precautions to ensure their safety and the protection of their property.

By S.K. Samaranayake

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