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Lanka’s Melanie first-ever Asian woman elected as CIMA President

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Melanie Janine Kanaka, FCMA, CGMA, has been elected the 89th President of The Chartered Institute of Management Accountants (CIMA), the world’s largest professional body of management accountants. She will also serve as Co-Chair of the Association of International Certified Professional Accountants (the Association), which represents the combined membership of CIMA and the American Institute of CPAs (AICPA).

During her year in office, Melanie will focus on reinforcing the accounting and finance profession’s commitment to being a trusted adviser for their organisations and serving the public interest. In addition, she will champion the profession’s need to continuously upskill and reskill to meet ever-evolving market demands. Melanie will also put a strong emphasis on inspiring younger generations to join the dynamic profession, advancing the profession’s digital skills and capabilities, and the importance of fostering diversity, equity and inclusion.

Melanie will work closely with Anoop Natwar Mehta, CPA, CGMA, who will serve as AICPA Chair and Chair of the Association, to represent the world’s largest public and management accounting bodies (AICPA and CIMA) to meet the demands of a constantly changing, disruptive world.

On her appointment, Melanie said: “It is a true privilege to have been chosen by my peers to serve our members and students around the world, and represent our profession on the global stage”.

“Over the past few years, the profession provided vital support and guidance to organisations to help them, not only survive, but also adapt and thrive in a world that has irremediably changed. As the world continues to undergo radical, disruptive changes at an accelerating speed, we must as professionals offer bold leadership.

She continued: “Now is the time for the profession to lean in and take the next step forward. We must make sure that we continue to deliver innovative solutions to create value, build trust, seize new opportunities and help deliver prosperity for individuals, organisations, economies and society as whole.”

Melanie is the first-ever Asian woman to be elected President of CIMA. She became a CIMA member in 1992 and obtained her fellowship in 2000. She has been an active member of CIMA for over three decades and has held several volunteer positions both in Sri Lanka, her home country, and internationally. Melanie also currently serves on the Association of International Certified Professional Accountants’ Board of Directors.

Melanie has extensive experience in corporate finance and development banking across the USA, Germany and South Asia. She currently leads the finance and administration function for the World Bank in Sri Lanka and Maldives where she is responsible for finance, resource management and performance review and is part of the World Bank’s South Asia regional unit.

Melanie is a Fulbright Scholar and an accredited SAP consultant who holds an MBA specialising in international finance and corporate strategy from Emory University’s Goizueta Business School in Atlanta, Georgia, USA. She also holds a 1st class B. Com (Hons) degree from the University of Sri Jayewardenepura, Sri Lanka, and is a distinguished alumna of Bishop’s College, Colombo, Sri Lanka.



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Chemmani mass graves: Govt to seek international forensic help

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ECONOMYNEXT –International assistance for forensic analysis of the remains unearthed at the Chemmani mass grave will be sought when the need arises, Sri Lanka’s Minister of has Justice said after opposition legislators urged the government to seek help.

“We have spoken to embassies, we have made all the local finances necessary for excavation. But when it comes to DNA analysis, depending on the type and nature we will definitely have to go for internationally recognised places,” Harshana Nanayakkara said in response to a query in Parliament.

Nanayakkara said that request for international expertise is dependant on the direction the courts give on what needs to be done, after which they will decide which agency best suits the proceedings.

The minister also recognised that local expertise is lacking in the forensic department, and the need to train local staff with the help of international experts.

Opposition MPs argued that the present need is direct help in forensics from international entities, rather than the longer term need to train the staff on analysis.

Currently, the investigation is in the excavation and exhumation stage, conducted by archaeologist Raj Somadeva and his team.

The existence of the Chemmani mass grave was first brought to light in 1998, during the trial of the rape and murder of schoolgirl Krishanti Kumaraswamy.

In February 2025, construction workers found remains near the Sinthupathy Cemetery, and following investigations ordered by the Learned Magistrate, the mass grave was discovered.

412 bodies have been discovered, with 409 bodies recovered as of 23 June 2026. According to the Office on Missing Persons, this is the 17th recorded mass grave in Sri Lanka.

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ADB approves $57.4 million package to boost Lanka’s rooftop solar drive

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The Asian Development Bank (ADB) has approved a $57.4 million financing package to help Sri Lanka expand access to affordable clean energy and reduce greenhouse gas emissions through a large-scale rooftop solar aggregation and virtual net metering programme.

The financing comprises a $35 million concessional loan, $16.9 million in grants from the European Union and $5.5 million from the Japan Fund for the Joint Crediting Mechanism. With additional contributions from implementing agencies, the total estimated cost of the project is $80.5 million.

Under the Rooftop Solar Aggregation and Virtual Net Metering Project, two state-owned utilities — Electricity Distribution Lanka (Private) Limited and Lanka Electricity Company (Private) Limited — will introduce a scalable model to collect electricity generated from large rooftop solar installations and allocate the benefits virtually among eligible consumers.

The initiative will allow consumers to access solar power benefits without having to install individual rooftop solar systems.

ADB Country Director for Sri Lanka Shannon Cowlin said the project would broaden access to affordable renewable energy while strengthening the resilience and inclusiveness of the country’s power sector.

She said the initiative would also support grid modernisation and digital transformation, while creating employment opportunities and encouraging greater participation of women and youth in the clean energy sector.

The project is expected to benefit micro, small and medium enterprises and community organisations that face financial or space constraints in installing their own rooftop solar systems. Through a social compensation mechanism, eligible groups will receive reductions in electricity costs under the virtual net metering system.

The programme will support around 25 megawatt-peak of rooftop solar capacity while strengthening distribution networks, improving digital capabilities and preparing the national grid to accommodate higher levels of distributed renewable energy.

A dedicated training facility will also be established under the project to develop green skills, enhance women’s participation in the sector and build technical expertise in advanced low-carbon technologies.

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Bond scam case against Mahendran, Ravi K fixed for July 22

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The Colombo High Court on Friday ordered that proceedings in the case filed against 11 defendants, including former Central Bank Governor Arjuna Mahendran and former Finance Minister Ravi Karunanayake, over alleged irregularities in the Central Bank bond auction be taken up again on July 22.

The case was called before Colombo High Court Judge Manjula Thilakaratne, who informed court that the Trial-at-Bar bench appointed to hear the matter had not been properly constituted.

Accordingly, the judge directed that the case be recalled on July 22 for further proceedings.

The Attorney General has filed indictments under the Public Property Act against 11 accused, including Mahendran, Karunanayake, Perpetual Treasuries Limited and its directors Arjun Aloysius and Geoffrey Aloysius.

The accused have been charged over alleged irregularities connected to a Treasury bond auction conducted by the Central Bank in March 2016.

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