Nihal Fonseka re-enters Monetary Board  – The Morning

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Anthony Nihal Fonseka was reappointed as a member of the Monetary Board of the Central Bank of Sri Lanka (CBSL) with effect from 26 May 2022. 

He previously served on the Monetary Board from July 2016 to May 2020.

Fonseka submitted his letter of resignation in May 2020, along with Dr. Dushni Weerakoon. Fonseka resigned before the completion of four years, while Dr. Dushni Weerakoon was appointed in July 2019, and resigned within her first year.

Fonseka is a Senior Independent Director and Chairman of the Group Audit Committee of John Keells Holdings PLC, Chairman of Phoenix Industries Ltd., Non-Executive Director and Chairman of the Audit Committee of Brandix Lanka Ltd., and a Non-Executive Director and Chairman of the Investment Committee of Phoenix Ventures Ltd.

A banker by profession, Fonseka has held several key positions in the local and international

banking and financial sectors. He was the Chief Executive Officer (CEO) of DFCC Bank for over 13 years, and prior to that, was the Deputy CEO of HSBC Sri Lanka for 10 years. 

He has also served as the Chairman of the Colombo Stock Exchange (CSE) and the Association of Development Financing Institutions in Asia and Pacific, Manila and as a Director of Commercial Bank of Ceylon PLC, and DFCC Vardhana Bank PLC. He was the President of the Sri Lanka National Advisory Council of the Chartered Institute of Securities and Investments, UK for over 10 years and is a member of the US-Sri Lanka Fulbright Commission.

Fonseka has held many positions in the public sector as well. He was a member of the 2009

Presidential Commission on Taxation and a member of the National Procurement Commission

established under the Constitution. He has served as a Director of the Credit Information Bureau and the Employees’ Trust Fund (ETF) and has been the Co-Chairman of the National Council for Economic Development (NCED) – Capital Market Cluster.

Fonseka has authored many articles and made many presentations at seminars and conferences locally and internationally.

He obtained his B.Sc degree from the University of Ceylon, Colombo, and is a Fellow of the Chartered Institute of Bankers, UK and a Honourary Fellow of the Chartered Institute of Securities and Investments, UK. 

 

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