CBSL appoints new Deputy Governors

Dr. C. Amarasekara

K.G.P. Sirikumara

The Central Bank of Sri Lanka (CBSL) yesterday announced the appointment of Dr. C. Amarasekara and K.G.P. Sirikumara as Deputy Governors.

Dr. Amarasekara has served the CBSL for more than 22 years. Prior to being appointed as the Deputy Governor, he held the position of Assistant Governor overseeing the Departments of Economic Research, Statistics, Market Operations, and Facilities Management, as well as Macroprudential Surveillance. 

He was also Secretary to the Monetary Policy Board (MPB).

He was previously on release to the International Monetary Fund (IMF), Washington DC, as the Alternate Executive Director for the constituency of Sri Lanka, India, Bangladesh, and Bhutan (January 2022-February 2024).

Dr. Amarasekara has specialised in monetary policy and macroeconomic research, and was the Director of Economic Research prior to commencing his assignment with the IMF. In addition to the Monetary Policy Committee (MPC) of the CBSL, Dr. Amarasekara is a member of the Financial System Stability Committee, Market Operations Committee, and risk management committees. 

He is currently a member of the Board of Governors of the Institute of Policy Studies (IPS) and Board of Directors of the Sri Lanka Export Credit Insurance Corporation (SLECIC). He was previously a member of the Board of Governors of the Hector Kobbekaduwa Agrarian Research and Training Institute (HARTI) and a member of the Science and Technology Policy Research Working Committee, National Science Foundation.

Dr. Amarasekara’s research on monetary policy and other central banking themes has been published in several international and local journals and is widely acknowledged and cited. He was the Editor of Staff Studies, the Central Bank’s Journal, during 2015-2020. He has volunteered as a guest lecturer, examiner, and quiz master at various academic and professional institutions, including various universities, the Institute of Bankers of Sri Lanka (IBSL), and the Centre for Banking Studies (CBS).

Dr. Amarasekara holds a PhD in Economics from the University of Manchester, UK, a Master of Science in Economics with Distinction from the University of Manchester, UK, and a Bachelor of Arts in Economics with First Class Honours from the University of Peradeniya. He is also an Attorney-at-Law.

Sirikumara has served the CBSL for more than 25 years in different capacities. Prior to being appointed as the Deputy Governor, he held the position of Assistant Governor and was, from time to time, overseeing several functions including Currency Management, Public Debt Management, Deposit Insurance, Financial Sector Resolution, Finance, and other Corporate Services.

Sirikumara has been instrumental in introducing numerous law reforms in the banking and financial sector, financial market infrastructures, capital markets, and combatting money laundering and terrorist financing. He has introduced strict governance standards within the Bank and introduced resolution and enforcement measures to strengthen the financial sector. 

He was a member of the National Payments Council, Financial Stability Committee, Financial Risk Management Committee, Non-Financial Risk Management Committee, and was in the Panel of Experts appointed under the Payment Devices Frauds Act, No. 30 of 2006. He has also functioned as an observer in the Monetary Board Advisory Audit Committee and Board Risk Oversight Committee. Currently, he functions as the Vice Chairman of the IBSL.

Sirikumara holds Master of Laws degrees from Monash University, Australia, and the University of Colombo. He also holds a Bachelor of Laws from the University of Colombo. He is an Attorney -at- Law and a member of the International Compliance Association, UK. He possesses International Diplomas in Anti-Money Laundering and in Compliance.