New era of development my goal - Ajith Nivard Cabraal
Ajith Nivard Cabraal who assumed duties as the twelfth Governor of
the Central Bank said that he together with his staff will strive to
usher in a new era of development suitable for the country in keeping
with the Mahinda Chinthana.
He said that the bank will be an inherent partner in the development
of the country maintaining the economic and price stability as well as
the financial stability of the country.
He said that the bank will act as an independent institution at all
times and live up to the expectations of the people in this country.
Cabraal said that we as Sri Lankans have a responsibility to develop
the country as it is our country. He said that he was proud to head an
institution where there was a huge concentration of knowledge, skills
and qualifications.
Prior to this appointment, Cabraal was the Adviser to President
Mahinda Rajapaksa on Economic Affairs and Secretary, Ministry of Plan
Implementation.
Cabraal also served as a Member of the Board of the Strategic
Enterprises Management Agency (SEMA), which is responsible for the
supervision of the twenty most important public institutions of the
country, including the State Banks and Public Utilities (Electricity,
Petroleum, Water, Railways, Road Transport, Ports and Airports). In
addition, he was also a member of the Government Team that participated
in the Geneva Talks with the LTTE in February 2006.
Cabraal also represented the Government in relation to the Millennium
Challenge Fund negotiations with the US Government. During the period
President Rajapaksa served as the Prime Minister, Cabraal was associated
in the development of the "Mahinda Chintana" which currently serves as
the Policy Framework and Development Plan of the Government.
A Chartered Accountant by profession, Cabraal is also an Eisenhower
Fellow and a recognised consultant in Corporate Governance. He was the
Founder Chairman of the Corporate Governance Committee which developed
the Code of Best Practice on Corporate Governance in Sri Lanka. He was
also the President of the Business Recovery and Insolvency
Practitioners' Association of Sri Lanka.
He is a Past President of the Institute of Chartered Accountants of
Sri Lanka, South Asian Federation of Accountants and St. Peter's College
Old Boys' Union. He has served on the Boards of the Securities and
Exchange Commission, National Institute of Business Management, Post
Graduate Institute of Management and the University of Moratuwa.
Prior to his appointment as the Secretary to the Ministry of Plan
Implementation, Cabraal had established his own management consultancy
practice. During this period, he was also Chairman and/or Director of
several quoted and unquoted public companies until December 2005 at
which time, he resigned from all private sector positions to take up
public office.
Cabraal is the author of the books, "Towards a Sri Lankan
Renaissance" which is a collection of strategies for the future
development of the country and "Lak Mawata Muthu Potak" (A String of
Pearls for Mother Lanka), a collection of over 60 short essays that
Cabraal has contributed to popular national newspapers from 2003 to
2004. Cabraal succeeded Sunil Mendis who resigned after serving two
years of his term of office on June 30, 2006.
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