Transfer of Secretary Monetary board in line with periodic changes, Central Bank says

The transfer of the Secretary to the Monetary Board of the Central Bank Ms. K.M.A.N. Daulagala was in line with periodic changes, the Central Bank (CB) said on Tuesday, implying that the change was based on service requirements and no other reason,

The change was made on the day after Ajith Nivard Cabraal took over as the new Governor of the CB, with the media speculating that the transfer of Ms. Daulagala, who is also a CB Assistant Governor, was connected to her work in assisting the Presidential Commission on the Bond transactions.

In a long statement, the CB said Assistant Governor J. P.R. Karunaratne has been appointed as the new Secretary with effect from September 15.

“The CB also wishes to state that responsibilities and functions assigned to all officers of the CB including senior officers are subject to change from time to time in the best interests of the CB 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,” it said.

The statement said that, it would be noted that the duties and responsibilities of SMB has been subject to periodic change and rotation from time to time, as set out below:

• February 2015:

AG (Asssistant Governor) H.A. Karunaratne appointed in place of AG C J P Siriwardhana who had served in the position for 6 months.

• November 2015:

Special Post of Deputy Secretary Monetary Board created and Grade 4 Officer (Mrs.) K M A N Daulagala appointed to the position.

• June 2016:

AG K D Ranasinghe appointed in place of AG H A Karunaratne who had served in the position for 16 months.

• July 2016:

AG H A Karunaratne appointed in place of AG K D Ranasinghe who had served in the position for 1 month.

• November 2018:

AG and Deputy SMB (Mrs.) K M A N Daulagala appointed in place of AG H A Karunaratne who had served in the position for 29 months: position of Deputy SMB not filled.

• September 2021:

AG J P R Karunaratne appointed in place of AG (Mrs.) K M A N Daulagala who had served as SMB for 34 months and as Deputy SMB for 36 months.