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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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Colombo Stock Exchange (GL 12) donates LKR 25 million to the “Rebuilding Sri Lanka” Fund

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The Colombo Stock Exchange (GL 12) has contributed LKR 25 million to the Rebuilding Sri Lanka Fund.

The cheque was handed over to the Secretary to the President Dr. Nandika Sanath Kumanayake by the Chairman of the Colombo Stock Exchange,  Dimuthu Abeyesekera, the Chief Executive Officer Rajeeva Bandaranaike and Senior Vice Chairman  Kusal Nissanka at the Presidential Secretariat.

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Karu argues against scrapping MPs’ pension as many less fortunate members entered Parliament after ’56

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Karu Jayasuriya

Former Speaker of Parliament Karu Jayasuriya has written to President Anura Kumara Dissanayake expressing concerns over the proposed abolition of MPs’ pensions.The letter was sent in his capacity as Patron of the Former Parliamentarians’ Caucus.

In his letter, Jayasuriya noted that at the time of Sri Lanka’s independence, political participation was largely limited to an educated, affluent land-owning elite. However, he said a significant social transformation took place after 1956, enabling ordinary citizens to enter politics.

He warned that under current conditions, removing parliamentary pensions would effectively confine politics to the wealthy, business interests, individuals engaged in illicit income-generating activities, and well-funded political parties. Such a move, he said, would discourage honest social workers and individuals of modest means from entering public life.

Jayasuriya also pointed out that while a small number of former MPs, including himself, use their pensions for social and charitable purposes, the majority rely on the pension as a primary source of income.

He urged the President to give due consideration to the matter and take appropriate action, particularly as the government prepares to draft a new constitution.The Bill seeking to abolish pensions for Members of Parliament was presented to Parliament on 07 January by Minister of Justice and National Integration Dr. Harshana Nanayakkara.

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Johnston, two sons and two others further remanded over alleged misuse of vehicle

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Former Minister Johnston Fernando and others being escorted out of the Wattala Magistrate Court premises yesterday

Five suspects, including former Minister Johnston Fernando and his two sons, who were arrested by the Financial Crimes Investigation Division (FCID), were further remanded until 30 January by the Wattala Magistrate’s Court yesterday.

The former Minister’s , sons Johan Fernando and Jerome Kenneth Fernando, and two others, were arrested in connection with the alleged misuse of a Sathosa vehicle during Fernando’s tenure as Minister.

Investigations are currently underway into the alleged misuse of state property, including a lorry belonging to Lanka Sathosa, which reportedly caused a significant financial loss to the state.

In connection with the same incident, Indika Ratnamalala, who served as the Transport Manager of Sathosa during

Fernando’s tenure as Minister of Co-operatives and Internal Trade, was arrested on 04 January.

After being produced before the Wattala Magistrate’s Court, he was ordered to be remanded in custody until 09 January.The former Sathosa Transport Manager was remanded on charges of falsifying documents.

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