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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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House erupts over suspension of Deputy Secretary General

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Opposition and SJB Leader Sajith Premadasa yesterday raised concerns over the recent suspension of Parliament’s Deputy Secretary General and Chief of Staff, G.K.A. Chaminda Kumara Kularatne, alleging that the process appeared to be mala fide. Addressing Speaker Jagath Wickramaratne in Parliament, Premadasa said that the existence of a personal disagreement between the Speaker and the suspended official had created a potential conflict of interest.

Premadasa said disciplinary action against senior parliamentary officials had to be taken in keeping with established parliamentary precedents. He also questioned the legality and propriety of a lower-ranking official leading an inquiry against a senior officer.

“For the first time, we are witnessing a rift between the Speaker and the staff of the Secretary-General. All parties must step back, act democratically and ensure that the fundamental rights of Chaminda Kularatne are safeguarded,” he added.

ITAK Batticaloa District MP Shanakiyan Rasamanickam said Kularatne had not been given an opportunity to respond to the allegations made against him.

“This is a disgraceful situation. A complaint has been lodged against you with the Bribery Commission. Parliament is the supreme institution of democracy in this country, and the precedent being created here is dangerous,” Rasamanickam said, addressing the Speaker.

SJB Kandy District MP Chamindranee Kiriella said the Speaker was duty-bound to inform the House before disciplinary action was taken against a parliamentary official. SJB MP Ajith P. Perera said it was unethical for the Speaker to assume a leadership role in the inquiry, and called for the matter to be entrusted to an independent authority.

Responding on behalf of the Government, Chief Government Whip and Health and Mass Media Minister Dr Nalinda Jayatissa said the chief investigating officer, S.K. Liyanage, an Additional Secretary, had been appointed by the Staff Advisory Committee on 25 August, 2025. He said Liyanage had been selected from a pool of qualified officers at the Ministry of Public Administration and had prior experience in conducting investigations.

Leader of the House and Transport Minister Bimal Rathnayake said the Staff Advisory Committee had agreed on the respective powers of parliamentary officials, noting that the Secretary General would hold powers equivalent to those of Ministry Secretary, while the Deputy Secretary General would hold powers equivalent to those of an Additional Secretary.

“There is no irregularity in the conduct of the investigation or in the appointment of the investigating officers,” Rathnayake said.

On 24 January, 2026, Parliament announced the immediate suspension of Deputy Secretary General and Chief of Staff Chaminda Kularatne with effect from 23 January, citing concerns relating to his appointment. Kularatne had assumed duties on 15 September, 2023.

On Monday, Kularatne filed a complaint with the Commission to Investigate Allegations of Bribery or Corruption against Speaker Jagath Wickramaratne, alleging corruption. His legal counsel, Attorney-at-Law Mithun Dias, said the complaint had been filed against the Speaker in his personal capacity and not against the government.

However, Dr Jayatissa told the House that the investigation into Kularatne was based on concerns relating to his appointment, qualifications and the process by which he had been confirmed in that post and was not linked to any personal dispute with the Speaker.

By Saman Indrajith

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78th Independence Day celebrations at Bogambara Stadium

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The 78th Independence Day celebrations in the Central Province are scheduled to be held today from 8:00 AM at the Bogambara Stadium, Kandy.

The celebrations are jointly organised by the Central Provincial Council and the Kandy District Secretariat. The Governor of the Central Province, Prof. S.B.S. Abeykoon, is expected to grace the occasion as the Chief Guest.

The event will also see the participation of Kandy District Members of Parliament, the Chief Secretary of the Central Province, Mr. Ajith Premathilake, as well as representatives from the Tri-Forces, Police, school students, and various voluntary organisations.

The ceremony will feature a formal parade and cultural performances by school children.

By S.K. Samaranayake

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Colombo-Kandy railway line to be fully restored this year – Minister Bimal

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Minister of Transport, Highways, and Urban Development, Bimal Rathnayake, has announced that the reconstruction of the Colombo-Kandy railway line, which was severely damaged by landslides in the Balana and Kadugannawa areas, will be completed within this year to restore normal train services.

The Minister made this statement during the Kandy District Development Committee meeting held at the District Secretariat. He noted that work will commence following the observations and technical reports provided by the National Building Research Organisation (NBRO) regarding the stability of the landslide-affected areas.

Financial Management and Development

Minister Rathnayake emphasised that the government possesses the necessary funds for development projects.

“Our government has the funds. However, all officials must ensure these funds are managed efficiently so that they are fully utilised for development, without being returned to the Treasury at the end of the year,” he stressed.

Improvements in Public Transport

Highlighting the progress in the transport sector, the Minister shared several key updates

• Recruitment: 700 new employees have been recruited to the Sri Lanka Transport Board (SLTB) and are currently undergoing training.

• School Transport: Steps are being taken to strengthen the ‘Sisu Sariya’ school bus service within the Kandy District.

• Infrastructure: The reconstruction of the Peradeniya Black Bridge (Kalu Paalama), which was damaged during the ‘Ditwah’ disaster, is nearing completion.

Welfare facilities for Private Transport Workers

The Minister also revealed plans to support the welfare of private bus drivers and conductors.

“We must look after the workers in the private transport sector as well. We are planning to establish a welfare fund for them and are taking steps to include them in the Employees’ Provident Fund (EPF) system,” he added.

Concluding his remarks, the Minister urged state officials to perform their duties responsibly and ensure that the inefficiencies seen under previous administrations do not recur.

By S.K. Samaranayake

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