The Central Bank in a statement yesterday announced the appointment of veteran banker Nihal Fonseka to its Monetary Board with effect from July 27, 2016. The appointment was made by President Maithripala Sirisena in accordance with the Section 8(2)(c) of the Monetary Law Act.
Fonseka throughout his professional life has held a number of key managerial positions in Sri Lanka as well as overseas. He was the CEO of the DFCC Bank for over 13 years and the Deputy CEO of the HSBC Colombo for 10 years.
He held the post of Chairman of the Colombo Stock Exchange, Lanka Ventures PLC, Acuity Partners Pvt. Ltd., Lanka Industrial Estates Ltd., National Asset Management Ltd. as well as the Association of Development Financing Institutions in Asia and Pacific, Manila.
He also held directorships in several government and private companies such as Commercial Bank of Ceylon PLC, Employees’ Trust Fund Board, DFCC Vardhana Bank PLC, National Procurement Commission, Presidential Commission on Taxation and Credit Information Bureau Ltd.
Currently, Fonseka is the Director and Chairman of the Group Audit Committee of John Keells Holdings PLC, Chairman of the Group Audit Committee of Brandix Lanka Ltd., President of the Sri Lanka National Council of the Chartered Institute of Securities & Investments and a Member of the US-Sri Lanka Fulbright Commission.
Fonseka holds a B.Sc degree from the University of Ceylon, Colombo. He is a Fellow of the Chartered Institute of Bankers, UK and a Member of the Chartered Institute of Securities and Investments, UK.
He has authored many articles and conducted a large number of presentations at various seminars and conferences locally and internationally.