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Tokyo Cement Chairman Cabral appointed NSB Chairman

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Dr. Harsha Cabral PC, a veteran legal professional, has been appointed as the new Chairperson of National Savings Bank (NSB).

Dr. Cabral is a President’s Counsel in Sri Lanka with 35 years’ experience in the field of Intellectual Property Law, Company Law, Commercial Law, Commercial Arbitration, Securities Laws and International Trade Law

He has been a President’s Counsel for 17 years. He holds a doctorate in Corporate Law from the University of Canberra, Australia.

He was a sitting member of the International Chamber of Commerce (ICC) International Court of Arbitration in Paris for a period of six years till 2021.

He is a Representative Member of the Federation of Integrated Conflict Management (FICM) as well as a Representative Member of the International Commercial Disputes Tribunal (ICDT).

Dr. Cabral is a Fellow of the Institute of Chartered Governance Institute (UK & Ireland). He is a former member of the Board of Investment (BOI) of Sri Lanka. He was the Founder Board Member of the Sri Lanka International Arbitration Centre and was involved in the drafting of the Arbitration Act, No. 11 of 1995, the current Act.

Dr. Cabral is also a member of the Law Commission of Sri Lanka, a member of the Intellectual Property Advisory Commission in Sri Lanka and the Chairman of the Intellectual Property Law Reform Project of the Ministry of Justice, a member of the Corporate Governance Faculty and the Corporate Governance Committee of the Institute of Chartered Accountants of Sri Lanka, and University Grants Commission (UGC) nominee on the Post Graduate Institute of Medicine (PGIM).

As a member of the Advisory Commission on Company Law in Sri Lanka, Dr.  Cabral was one of the architects of the Companies Act No. 7 of 2007.

Dr. Cabral serves as the Chairman of the Tokyo Cement Group, which commands the largest market share for cement in Sri Lanka. He was the past Chairman of LOLC Finance PLC, one of the largest Finance Companies in Sri Lanka.

He was also a director of LOLC Insurance Company Limited, Commercial Leasing & Finance Limited and Richard Pieris Distributors Limited (Arpico Supermarkets). He was also the past Acting Chairman of Hatton National Bank PLC (HNB). In addition, Dr. Cabral was a senior Director of the Union Bank of Sri Lanka. He was also a member of the Cabinet appointed Committee on the National Trade Policy and also a member of the Presidential Commission appointed on reformulating laws of Sri Lanka.

Dr. Cabral currently serves as Independent Non-Executive Director of DIMO PLC, Hayleys PLC, Alumex PLC, Tokyo Cement Company (Lanka) PLC, Chevron Lubricants Lanka PLC, Ceylinco Life Insurance Co Ltd, Darley Property Holdings Ltd., CCC-ICLP International ADR Centre (Guarantee) Limited, National Olympic Committee (NOC) Ethics Committee (Chairman) and Sri Lanka Institute of Information Technology (Guarantee) Ltd., (SLIIT), and he serves on several Audit Committees, Nomination Committees, Remuneration Committees, Recoveries Committees and the Related Party Transaction Committees, chairing most of them.

Dr. Cabral is a senior visiting lecturer at several Universities here and abroad, a regular speaker at public seminars and an author of several books. He has also presented several papers on Corporate Law, Intellectual Property Law, Commercial Arbitration, and International Trade Law here and abroad. In addition to his active practice in courts and lecturing, he has been a counsel in many Arbitrations and has served as Sole-Arbitrator, Co-Arbitrator and Chairman in a large number of Arbitrations, domestic and international.

Dr. Cabral is also an accomplished author who has published several books including “Corporate Law, Derivative Actions: A Comparative Approach” and “Intellectual Property Law in Sri Lanka”.

NSB General Manager/ CEO Ajith Peiris and other officials participated in the event where the new chairman assumed duties.

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CBSL appoints two New Deputy Governors

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The Central Bank of Sri Lanka (CBSL) has appointed two new Deputy Governors, effective this week. 

Assistant Governor and Secretary to the Governing Board A.A.M. Thassim has been appointed as Deputy Governor starting June 20, while Assistant Governor J.P.R. Karunaratne will assume his new role on June 24.

These appointments were made by the Minister of Finance, following recommendations from the CBSL Governing Board, in accordance with the Central Bank of Sri Lanka Act, No. 16 of 2023.

Mr. Thassim brings over 31 years of experience at CBSL, having worked in various areas including Banking Supervision and Regulation, International Operations, and Risk Management. He has also been part of several high-level committees on monetary policy and financial stability.

Mr. Karunaratne, with over 33 years at CBSL, has extensive experience in the supervision and regulation of financial institutions, currency management, and public debt. He has significantly contributed to strengthening the legal framework and consolidation of the Non-Bank Financial Institutions sector.

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UK rejects TGTE appeal to lift LTTE proscription

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The UK Proscribed Organisations Appeals Commission has rejected an appeal by the Transitional Government of Tamil Eelam (TGTE) to lift the proscription on the Liberation Tigers of Tamil Eelam (LTTE) as a terrorist organisation in Britain.

Sri Lanka’s Minister of Foreign Affairs, Ali Sabry, confirmed that the UK will continue to maintain the proscription on the LTTE. Announcing this on ‘X’ (formerly Twitter), Sabry noted that the independent court, headed by a high court judge and two retired senior diplomats, ruled against de-proscribing the LTTE.

The TGTE, which supports the creation of an independent Tamil state in north-east Sri Lanka, had appealed to the UK to lift its ban on the LTTE. However, the TGTE itself is not proscribed in the UK as it seeks to achieve its political and ideological objectives through non-violent means.

Sabry further stated, “The LTTE international network’s approach and strategy is to get foreign governments to de-proscribe the LTTE so that they could revive the LTTE.”

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Thai PM justifies frequent international trips, including a visit to Sri Lanka

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Thailand’s Prime Minister Srettha Thavisin defended his frequent globe-trotting during his first 10 months as leader of the Southeast Asian nation, in remarks aired in a television broadcast on Saturday.

A real estate tycoon and political newcomer who became prime minister in August last year, Srettha made 15 overseas visits and pledged a two-month halt in March in response to public criticism.

“Some of these visits are not avoidable,” he said, referring to those for official meetings of the Association of Southeast Asian Nations (ASEAN), as well as to China and Japan, while a third was to Sri Lanka to sign a free trade pact.

Other visits aimed to draw trade and investment, said Srettha, nicknamed Thailand’s salesman, who has often spoken of his goal of luring more foreign investment to the country.

“It’s necessary to go,” he said in the remarks recorded in advance.

Source: Reuters

–Agencies

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