The Central Bank of Sri Lanka (CBSL) has announced the appointment of two new members to its Governing Board (GB).

In a press release, the CBSL’s Communications Department said on Monday (Feb.12) that Mr. Rajeev Amarasuriya and Mr. Manil Jayesinghe were appointed to the GB with effect from 30 January and 01 February, respectively.

Mr. Amarasuriya served as the Secretary of the Bar Association of Sri Lanka (BASL) and has extensive Appellate Court practice in the areas of Public Law and most branches of Civil Litigation including contractual, commercial, property, taxation, banking and other disciplines of the law.

He is also a Board / Committee Member of several State and Private Sector Institutions including the Sri Lanka Accounting and Auditing Standards Monitoring Board, the Standing Committee of Legal Studies of the UGC and is a Council Member of the University of Colombo.

Mr. Amarasuriya serves as the Sri Lanka Country Representative of the Commonwealth Legal Education Association and an Executive Committee Member of LAWASIA.

He is a former Member of the governing body of the Sri Lanka Law College, the Council of Legal Education of Sri Lanka chaired by the Chief Justice and has served as former Commissioner of the Securities and Exchange Commission of Sri Lanka, a former Member of the Board of Governors of the Sri Lanka National Arbitration Centre and the Immediate Past President of the Alumni Association of the University of Colombo.

Meanwhile, Mr. Manil Jayesinghe is a Fellow Member of the Institute of Chartered Accountants of Sri Lanka, Fellow Member of the Chartered Institute of Management Accountants (UK), a Fellow Member of the Certified Management Accountants of Sri Lanka and a Member of the Chartered Institute of Public Finance & Accountancy.

Setting out his career at Ernst & Young, Mr. Jayesinghe gained extensive experience in a range of sectors including manufacturing, retail, hospitality, wholesale business and telecommunication, in his capacity as Partner of Ernst & Young for 30 years; and was the Country Managing Partner of Ernst & Young Sri Lanka & Maldives from 2021-2023, Head of Assurance Practice in Sri Lanka and the Profession Practice Director of Sri Lanka, from 2003 -2023. His forte in valuation of businesses and development of strategic plans for Financial Institutions made Mr. Jayesinghe a key resource in financial services. He also served as Head of the IFRS/SLAS Desk in Sri Lanka.

In his career spanning over 41 years of advisory and industry experience, he served as President of the Institute of Chartered Accountants of Sri Lanka, Member of the CIMA Sri Lanka Board, Council Member of the University of Moratuwa, Member of the International Accounting Education Board of the IFAC, Member of the Sri Lanka Accounting and Auditing Standards Monitoring Board, Council Member of CMA Sri Lanka, Member of the Audit Advisory Committee of the Central Bank, Advisor to Audit Committees of PLC’s and Banks, and Member of the National Chamber of Commerce of Sri Lanka.

Currently, he is Chairman of the Statutory Accounting Standards Committee, Member of the Statutory Auditing Standards Committee and serves on many other committees of the Institute of Chartered Accountants of Sri Lanka. He is also a Member of the Financial Reporting Standards Implementation and Interpretation Committee (FRSIICS), Chairman of the Accounting Standards Committee of the South Asian Federation of Accountants (SAFA), Member of the Audit Committee of SLIM, Member of Securities & Exchange Commission of Sri Lanka, Member of the Board of Investments of Sri Lanka, and Independent Director of DIMO, Ceylon Hospitals, C.W. Mackie Plc and Sahasiya Investments Ltd.