The Central Bank of Sri Lanka has announced the appointment of a new Secretary to its Monetary Board with effect from September 15.

According to a press release by the Central Bank, the Assistant Governor of the Central Bank, Mr. J.P.R. Karunaratne will now serve as the Monetary Board’s secretary.

He is a Fellow Member of the Chartered Institute of Management Accountants, UK and an Associate Member of the Certified Management Accountants (CMA) of Sri Lanka.

Mr. Karunaratne holds a Master of Commerce Degree in Finance from the University of New South Wales, Australia and a Postgraduate Diploma in Applied Statistics and a Bachelor of Science (Physical Science) Degree from the University of Colombo.

The CBSL stressed that the responsibilities and functions assigned to all officers of the organization including senior officers are subject to change from time to time in its best interests, as determined by the management.

Further, it should be noted that transfers of staff and rotation of officers in a financial institution is an essential and vital component of internal control and internal check, the press release read further.

The statement came as a response to the speculations concerning the removal of Assistant Governor K.M.A.N. Daulagala as the Monetary Board’s secretary. According to the Central Bank, Mrs. Daulagala had served in the position for 34 months.