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Feb 08, 2017

Outsider to be a CB deputy governor? Featured

There is a proposal before the monetary board to go against tradition and appoint an outsider as a deputy governor of the Central Bank (CB), much to the chagrin of its senior officials, ‘Divaina’ reports quoting highly placed CB sources.

Finance secretary R.H.S. Samaratunga has submitted the proposal to serve the need of his minister Ravi Karunanayake, according to the sources.

The practice so far has been to make a selection, based on experience and seniority, from among the assistant governors and fill the vacant deputy governor positions.

The outsider is to be appointed to fill one of the two deputy governor positions that will fall vacant this year with the retirement of S. Lankatilake in April and P. Samarasiri in August.

Also, there is a plan to bring back Samarasiri, who was the Tender Board chairman for the controversial bond issues, once he retires and appoint him to the other deputy governor position.

This is in return for his having gone against the majority opinion in the Tender Board and protected ex-governor Arjun Mahendran over the bond issue.

However, the Monetary Board is yet to take a decision on the proposal.

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