SLID and ICCSSL launch Board Secretaries Forum

SLID CEO Radika Obeysekere

SLID Chairman A.R. Rasiah

SLID Senior Vice Chairman Faizal Salieh

ICCSSL President Hemali Ellawala

SEC Chairman Viraj Dayaratne PC

IFC Country Manager – Sri Lanka and Maldives Amena Arif

IFC Corporate Governance Officer – ESG Advisory Services Lopa Rahman

ICCSSL Assistant Secretary Arosha Berugoda

The Sri Lanka Institute of Directors (SLID) and the Institute of Chartered Corporate Secretaries of Sri Lanka (ICCSSL) announced a collaboration to provide an interactive platform for public and private sector company board secretaries, enabling the sharing of best practices and building of key competencies required to perform their roles effectively. 

Accordingly, an MOU was initiated between the SLID and ICCSSL to inaugurate the Board Secretaries Forum, with the virtual inauguration held on 23 February. The event was hosted by SLID CEO Radika Obeyeskere.

Chief Guest Securities and Exchange Commission of Sri Lanka Chairman Viraj Dayaratne PC commended the efforts of SLID and ICCSSL in forming this partnership to recognise and strengthen the role of the Corporate Secretary in upholding corporate governance. Highlighting the prominent role of the Corporate Secretary, Dayaratne further added that even from the perspective of the SEC, vital components such as adherence to the listing rules, protection of shareholder rights and maintaining corporate standards would ultimately be the responsibility of the Corporate Secretary. 

The distinguished invitees, IFC Sri Lanka and Maldives Country Manager Amena Arif and IFC Environment Social Governance Advisory Services Corporate Governance Officer Lopa Rahman, also addressed the inauguration. Arif highlighted IFC’s longstanding partnership with SLID – specifically through the IFC-DFAT Women in Work program – in promoting the advancement of women board directors across all industries. Speaking at the event, Ms. Rahman highlighted the importance of governance in all types of organisations, stressing the significance of setting up this Forum and reassured IFC’s support in going forward.

Addressing the gathering, SLID Chairman A.R. Rasiah stated, “Since the Institute was founded in 2000, it has been at the forefront of serving the corporate needs of contemporary and prospective Directors, both in private and public sector organisations and will continue to be the authoritative focal point on Boardroom Governance in Sri Lanka.” 

SLID Senior Vice Chairman Faizal Salieh touched upon the need to set up the Board Secretaries Forum, stating that it aims to help participants understand their roles and responsibilities, including the essential practices required for good governance as well as its application both within and outside the Boardroom. The Forum would also sharpen their skills with regards to Boardroom dynamics and processes, principally drawing from ‘best in class’ Board practices. Furthermore, he said participants can make use of this Forum to develop leadership attributes beyond the conventional scope of Company Secretarial practice to fit the bill of future-ready Boards. ICCSSL President Hemali Ellawala drew attention to the ICCSSL of today, tracing its origins back to the Institute of Chartered Secretaries and Administrators (ICSA) of UK – which was established in the year 1891 by a Royal Charter. 

The Sri Lankan arm of the ICSA was established in 1953 as an Association of the Sri Lankan Members of the ICSA of London and this branch subsequently gained local status in 1985. Years later in 2008, a Steering Committee set up by the ICSA Governing Council, under the leadership of Founder President, Deshamanya Professor M.T.A. Furkhan established the current local institute as the Institute of Chartered Corporate Secretaries of Sri Lanka.

Ellawala also affirmed the comprehensive nature of the curriculum offered by the Institute, which covers 18 subjects across five levels within a period of 20 months and that those who qualify as graduates will be certified professionals with the necessary competence and confidence to work in an environment of whatever nature, be it a business enterprise or state sector. 

She went on to say that this provides a holistic knowledge in Company Secretarial practice, good governance and compliance and systems and processes within legal and other frameworks of best practice.

ICCSSL Assistant Secretary Arosha Berugoda proposed the vote of thanks.