Business sector hails new CB Governor

The corporate and finance sectors last week extended their vociferous support to the new Central Bank Governor, Dr. Indrajith Coomaraswamy and urged him to re-establish the credibility of the bank while introducing strong policies that benefit the economy.

Financial industry analysts said the governor’s priority should be to streamline monetary policy and the monetary board. “Setting credibility is his priority; he is the best person to do it,” an independent analyst said.

Responding to Dr. Coomaraswamy’s appointment, Chairman, Ceylon Chamber of Commerce Samantha Ranatunga said it was a very good appointment. “We support his appointment fully.”

“He has the qualifications, intellect, stature and the degree of balance in addition to international banking experience. As he has also worked in the private sector he would better understand the issues faced by the private sector institutions as well,” he said.

A man of high integrity, Dr. Coomaraswamy accepted the position at a difficult time. Hence his responsibility to deliver is equally tough. It’s a tough job; we hope he would perform excellently, Ranatunga said.

Dr. Coomaraswamy is no stranger to the Ceylon Chamber; he often takes part in economic sessions and policy related meetings of the chamber.

He is also scheduled to be main speaker of the Chamber’s forthcoming economic summit in Colombo.

Senior Vice President, National Chamber of Commerce of Sri Lanka (NCCSL), Sujeewa Samaraweera urged the governor to look at short term solutions for businesses - to increase investments and trade opportunities. “We will support him fully. He is a qualified and well-experienced professional.

We have already had the chance to work with him on many occasions in the past. He is a balanced person who carries balanced views about any issue.

“We are looking at short-term solutions for our industries; as of now the business community is sceptical about some of the policies and what is happening around as far as the business environment is concerned.

We hope that the governor will take our pleas seriously and bring about solutions which can be appreciated by everyone,” he said.

Rohan Masakorala of the Colombo Shipping Academy said he has also worked with Dr. Coomaraswamy on many occasions.

“He is a thorough professional and a good thinker. I am personally very happy about his appointment.” Meanwhile, Central Bank sources said the employees of the bank are also quite supportive of the new governor and looking forward to carrying out his directives.

One employee said the speech the Governor made at the inaugural meeting with the employees was excellent and if he sticks to what he promised, the bank will soon be able to re-establish its lost glory.