The Central Bank has reconstituted the 14-member Financial System Stability Committee (FSSC), a key consultation and advisory initiative of the monetary authority. 

The FSSC will be headed by Dr. Kenneth de Zilwa, Chairman of Lanka Clear Ltd. The other members are C.N.S.N. Anthony – Director/General Manager, Credit Information Bureau of Sri Lanka; L.H.A. Lakshman Silva – Chairman, Sri Lanka Banks Association (Guarantee) Ltd.; Niroshan Udage – Chairman, Finance House Association of Sri Lanka; Sujeewa Mudalige – Managing Partner, PricewaterhouseCoopers; Sanjaya Bandara – Vice President, Institute of Chartered Accountants of Sri Lanka; Vish Govindasamy – Chairman, The Ceylon Chamber of Commerce; Shirley Jayawardena – President, Federation of Chambers of Commerce; Krishan Balendra – Chairman, John Keells Holdings PLC; Kushan de Alwis, President’s Counsel; Saliya Wickramasuriya – Acting Director General, Colombo Port City Economic Commission; Kapila Jayawardena – Group Managing Director, LOLC Holdings PLC; Chitranjali Dissanayake – Director General, Export Development Board and representative of the Organisation of Professional Associations of Sri Lanka.

The FSSC is tasked with reviewing developments in the financial sector, in particular with regard to financial system stability; providing market/stakeholder based views on emerging trends and issues in the financial sector; making suggestions to further develop financial markets and systems; and making suggestions and providing advice on risk mitigation measures relating to financial system stability.

Stock market remains bearish, low turnover persists