Rajeev Amarasuriya to step down from CBSL Governing Board

Attorney-at-Law Rajeev Amarasuriya is scheduled to conclude his tenure as a member of the Governing Board and the Monetary Policy Board of the Central Bank of Sri Lanka (CBSL) on June 27, 2025.
 
The Bar Association of Sri Lanka (BASL), in an official statement announced that Attorney-at-Law Rajeev Amarasuriya resigned from the board after assuming duties as the President of the BASL.
 
Upon the approval of the Constitutional Council, Rajeev Amarasuriya was appointed as a Member of the Governing Board of the Central Bank of Sri Lanka with effect from January 30, 2024, for a period of six (years, until January 29, 2031. This was under the new Central Bank of Sri Lanka Act No. 16 of 2023, which made the Bank an independent Institution recognised by Law.
 
Amarasuriya assumed Office as the 29th President of the Bar Association of Sri Lanka on March 29, 2025. According to the BASL statement, two days prior to his assumption of office, Amarasuriya in a letter addressed to President Anura Kumara Dissanayake tendered his resignation from the Governing Board and the Monetary Policy Board of the Central Bank.
 
In terms of Section 18 of the Central Bank Act which mandates a minimum notice period of 3 months, Amarasuriya will now complete this period of notice next week and end his tenure on the Governing Board and Monetary Policy Board of the Central Bank, the BASL noted.
 
In his letter to the President and the Constitutional Council, Amarasuriya has stated “The office of President of the Bar Association of Sri Lanka carries with it much responsibility and commitment of time. There is much work that is required to be performed in this role. Whilst I appreciate that my role and function in the Central Bank is of national importance and priority, Your Excellency will appreciate that I must now dedicate my attention and time in the performance of my new role as the President of the Bar Association of Sri Lanka.”
 
In this letter he noted that “The Central Bank is an institution that must be independent at all times, and I was fortunate to serve on a Board that has been independent. With my resignation there will be a need for a new appointment to be made and I am confident that when nominating and appointing a new Member, Your Excellency and the Constitutional Council will be mindful to ensure that the Governing Board of the Central Bank of Sri Lanka will remain independent from both political and government influence.”