News
TISL welcomes positive intervention by IMF to ensure public access to asset declarations
Transparency International Sri Lanka (TISL) has welcomed the introduction of a new Structural Benchmark in the IMF’s Third Review Agreement, which it states addressed gaps in implementing the Asset Declarations system under the Anti-Corruption Act of 2023.
In a statement, the TISL said this is a significant step toward ensuring public access to asset declarations, a long-standing reform for which it has strongly advocated.
The benchmark requires the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) to remove excessive redactions, disclose bank balances and other asset values, improve accessibility, publish non-filers’ names, include Beneficial Ownership details in declaration forms, and enact a comprehensive Asset Recovery Law in line with UNCAC obligations.
While this progress is welcome, TISL said it highlights a broader concern, as government institutions often prioritise procedural compliance over meaningful reform.
Weak governance and corruption were key contributors to Sri Lanka’s economic collapse, yet accountability remains lacking when governance-related commitments are not effectively implemented. Critical transparency and anti-corruption reforms risk being delayed or diluted without structured oversight and meaningful public engagement.
Pointing out that without genuine public participation, governance reforms risk becoming ineffective, TISL has called on the government to establish a structured, transparent mechanism for civil society engagement in governance reforms, particularly within International Financial Institution led programmes, such as the IMF agreement.
This mechanism must go beyond ad-hoc consultations and ensure that reforms are developed, implemented, and monitored with input from the public and civil society organizations, reflecting real-world challenges and needs. An open, participatory approach will not only strengthen reform outcomes but also build public trust in the process, it said.
TISL further urged International Financial Institutions to institutionalise civil society participation, ensuring governance reforms are not reduced to box-ticking exercises. Just as macroeconomic targets are rigorously assessed, governance commitments must be subject to the same level of scrutiny.
Upcoming reforms on proceeds of crime, public procurement, and beneficial ownership transparency must be implemented in ways that guarantee genuine progress. TISL emphasised that the strength of Sri Lanka’s economic recovery will not be determined by financial restructuring alone but by its commitment to accountability, open governance, and the rule of law.
The Commission to Investigate Allegations of Bribery or Corruption (CIABOC) sources said that plans were afoot to file charges in connection with 15 major fraud and corruption cases in the near future.
The Commission sources said that these cases stem from thorough investigations into complaints that had previously gone unexamined, with recent file reviews prompting the decision to proceed with legal action. The forthcoming charges are based on detailed inquiries that uncovered substantial evidence pointing to serious misconduct.
To date, CIABOC has initiated inquiries into over 300 complaints received during the recent period, reflecting an expanded commitment to tackling corruption at multiple levels of governance.
Commission sources said that several former ministers and political affiliates from past administrations are among those implicated in the ongoing investigations, though specific names have yet to be disclosed.
Despite global shifts toward digital transactions, Cash on Delivery (COD) remains the dominant payment method for online shopping in Sri Lanka, according to the Digital Outlook Sri Lanka 2025 Report by the Asia Pacific Institute of Digital Marketing (APIDM) and the University of Kelaniya.
The report reveals that 52 percent of Sri Lankan online shoppers prefer COD, up from 48 percent in the previous year, underscoring persistent consumer caution toward digital payments.
While debit/credit card usage has dipped slightly to 35 percent (from 39.5 percent last year), newer digital payment methods such as e-wallets/e-money apps lag at 1 percent or less. Installment-based “Buy Now, Pay Later” options account for 3 percent, reflecting modest traction. Online bank transfers, meanwhile, accounted for 8 percent (down from 9 percent last year).(aayubo.com)
The Ministry of Education, Higher Education, and Vocational Education has launched a recruitment initiative aimed at addressing critical shortages in university academic staff across the country.
Deputy Minister Dr. Madura Seneviratne said that the recruitment process is being implemented at the university level to ensure that pressing needs are addressed efficiently and in alignment with institutional priorities.
The move comes in response to growing concerns raised by the Federation of University Teachers’ Associations (FUTA), which has pointed out that nearly 2,000 essential faculty positions remain unfilled across the country’s public universities, potentially impacting the quality of higher education and research output.Deputy Minister Seneviratne said that the recruitment process will be prioritized based on the urgency and significance of vacancies within individual universities and departments.
By Chaminda Silva
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