Karunaratne replaces Dalugala as new Monetary Board Secretary

Assistant Governor K.M.A.N. Daulagala has been removed from the post of Secretary of the Monetary Board of the Central Bank, with immediate effect. She has been replaced by Assistant Governor J.P.R. Karunaratne.

Daulagala was responsible for safeguarding all files relevant to the infamous bond scam from the very beginning to all the way up to the forensic audit as her role as Secretary of the Monetary Board of the Central Bank in the period. She also coordinated with the Attorney General’s Department on the matter. 

In addition, she also led the audit into EAP Group, looking into the allegations of mismanagement of the two finance companies under the group.

Coincidentally, the removal of Daulagala as Secretary of the Monetary Board came within the same week of the appointment of new Central Bank Governor Ajith Nivard Cabraal.Daulagala has served the Central Bank for around 30 years under various  departments and was appointed as an Assistant Governor in 2017. 

She holds a Master of Science Degree in Financial and Business Economics from the University of Essex, United Kingdom and a Master of Business Administration Degree from the University of Sri Jayewardenepura. She is a Fellow member of the Chartered Institute of Management Accountants (CIMA), UK. Meanwhile, Assistant Governor Karunaratne, who replaces her, holds a Master of Commerce Degree in Finance from the University of New South Wales, Australia and a Postgraduate Diploma in Applied Statistics and a Bachelor of Science (Physical Science) Degree from the University of Colombo. He is a Fellow member of the Chartered Institute of Management Accountants (CIMA), UK and an Associate Member of the Certified Management Accountants (CMA) of Sri Lanka.