Journal shows dedication to academic excellence
Buddhist and Pali Studies: The
Academic Journal of the Buddhist and Pali University of Sri Lanka: 2006
Review: Senior Professor Asanga TILAKARATNE
JOURNAL: An academic journal published by a centre of higher
studies is a public expression of its academic studies and research.
The Buddhist and Pali University of Sri Lanka has produced its annual
research journal for 2006. The university and its academic staff deserve
to be congratulated for their achievement.
Those who are in the field of Buddhist studies in particular, or
humanities in general, in Sri Lanka know-how difficult it is to get a
decent amount of scholarly papers for an academic journal.
It is well known that in many developed countries the motto for
university people is: Publish or perish! What this indicates is that
unless a university teacher maintains good record of academic research
and publications she is not likely to retain her teaching position or
get promotion.
But fortunately for the university teachers of this country no such
thing exists. Once appointed and confirmed in their positions the
university teachers may go till their retirement without too much
hassle.
In such a circumstance it is indeed a praiseworthy effort by BPU to
have been able to bring out a substantial collection of papers on
various aspects of Buddhist and Pali studies mostly by its own academic
community.
Ven. Professor Wegama Piyaratana Thera, the Vice Chancellor of the
university and Professor Oliver Abenayaka have contributed as Editorial
Consultants to this journal. Ven. Prof. Gallelle Sumanasiri, the Dean of
the Faculty of Buddhist Studies, Ven. Dr. Neluwe Sumanawansa, Dean of
the Faculty of Languages, Ven. Dr. Ittademaliye Indasara, Head of the
Department of Buddhist Philosophy and Ven. Akiriyagala Nanda, MPhil have
served as the Editorial Board with Ven. Dunukewatte Gunaratana, Head of
Department of Modern Languages, serving as the Secretary to the Board.
The journal is bi-lingual, contains papers in both English and Sinhala.
Buddhist studies
The journal contains 21 academic papers, of which seven are in
English, and a composition in Pali. The papers cover various aspects of
Pali, Sanskrit, Sinhala and Buddhist studies.
Although I do not propose to summarise and comment on all the papers
let me give at least the shortened titles of these papers so that the
reader may get an idea of the rich variety of the subjects that have
been dealt with.
The papers as they appear are: âA study on the use of similes in the
Sutta-pitakaâ by Ven. Prof. Wegama Piyaratana, âTri-temporal dimension
of Buddhist informationâ by Prof. Oliver Abenayaka, âPractical Buddhism
based on the idea of bhaktiâ by Ven. Prof. Gallelle Sumanasiri, âThe
two-fold soullessnessâ by Ven. Dr. Neluwe Sumanawansa, Differences in
the Middle Path in early Buddhismâ by Ven. Akiriyagala Nanda, âA brief
account of the Sarvastivada traditionâ by Ven. Dr. Ittademaliye Indasara,
âBodhisathva concept in the Jataka storiesâ by Ven. Dunukewatte
Gunaratana, âThe place of ascetic practices in Buddhismâ by Ven. Dr.
Kollupitiye Mahinda, âRuins of a dagoba at Kasikoteâ by Senior Prof.
Wimal Wijeratne, âPolitical participation of women in early Indiaâ by
Ven. Dr. Makuruppe Dhammananda, âThe evolution of Sankrit Alankara
Sastraâ by Prof. E.A. Wickramasinghe, âChinese version of the Pali
Samantapasadika or Sihala Vinaya Atthakathaâ by Prof. Toshiichi Endo,
âFoundation of Buddhist Psychologyâ by Ven. Pitigala Vijita, âThe
Madhyamaka philosophy and the Middle Pathâ by Ven. Moragollagama
Uparatana, âAn examination of vakrokti (...) and riddlesâ by Ven.
Medagoda Abhayatissa, âUniqueness of local way of thought as revealed
from grammarâ by Ven. Mavatagama Pemananda, âDialectical logic and
method of debate in the Kathavatthuppakaranaâ by Ven. Hettimulle Rahula,
âMethodology of proof employed in supporting the principles of Buddhist
philosophyâ by Ven. Vigitapura Gunaratana, âConcepts fundamental to
religious studiesâ by Ven. Ratnapure Rahula, âAdministration of Buddhist
monasteries as revealed in inscriptions in Sri Lankaâ by H.M.Y.V.K.
Herath and âThe Buddhist attitude to natural beautyâ by M.A.C.
Munasinghe.
The last item of the journal is a poem in Pali composed by Aruna K.
Gamage, holding a special degree in Pali from the University of Kelaniya.
Impressive character
An impressive character of this collection is that almost all
academic members of the BPU have written papers for it. Except for two
or three all the other papers have been written by the teachers of the
university.
This augurs well for the future of Buddhist research in the country.
The key aim of establishing BPU was to promote Buddhist and Pali studies
worldwide. This was an effort on the part of the pioneers of this higher
education centre who took Buddhism and Pali language associated with it
as special religious and academic heritage of this country, which is
worth preserving, promoting and sharing with the rest of the world.
The academic journal clearly is on the path to realise this noble
goal. Although the journal is meant to be annual publication, with every
academic member writing at least two papers every year, the university
may well be able to bring it out every six months.
There is no room in this space to comment on all the papers published
here although all of them deserve to be commented on in some respect or
other.
Let me highlight a few. Prof. Toshiichi Endoâs paper on the Chinese
version of Samantapasadika (Chien-hi-pâio-sha) adds to the value of the
journal.
The author argues that the Chinese version is really based on Pali
Samantapasadika and not on Uttaravihara-atthakatha or any version of
Vinaya Atthakatha in Sinhala. By establishing this the author tries to
counter the claim made by such scholars as Prof. Ananda Guruge of the
University of the West, USA.
Apart from its academic merit my reason for highlighting this paper
is to direct the attention of the young and emerging Buddhist scholars
in this country to the vast amount of academic opportunities if they
master a Buddhist source language such as Classical Buddhist Chinese.
Traditionally the Buddhist scholarship of Sri Lanka has been known
for its expertise in Pali and Buddhist (hybrid) Sanskrit.
Although it is a matter of speculation today as to how many young Sri
Lankan Buddhist scholars master at least one of these languages, the
state of the Buddhist scholarship in the world is so advanced that
knowledge in Pali and Buddhist Sanskrit are almost taken for granted.
This means that many of the Buddhist scholars know Pali and Sanskrit
and they also know one or two other Buddhist source languages such as
Classical Chinese or Tibetan. The field of Buddhist studies is no longer
traditional, and also not centred on the traditional seats of Buddhist
learning.
The centre has shifted to the West for some time now. The struggle at
the moment is not to regain the centre but to keep pace with the new
developments taking place in these newly established non-traditional
centres of Buddhist learning.
In this context I would like to make two comments: one is on the need
to be well versed in where we have been traditionally strong, that is,
in Pali and Sanskrit. The other is the need for our emerging scholars to
be able to make effective use of the Western languages such as English.
Those young scholars who have presented their research in English
deserve to be commended on that account. The last item of the papers,
the Pali poem by Aruna Gamage deserves to be commended not so much for
its content but for the mere fact that he has been able to produce a
poem in advanced Pali with notes providing justification for his
innovative use of language.
As I highlighted in the Oriental Studies Society of Sri Lanka 2004
annual oration we in Sri Lanka need to take Pali studies very seriously
and there is so much in the contemporary world Pali scholarship that
need to be re-examined from an insiderâs point of view.
descriptive presentations
Most of the papers in the collection are descriptive presentations
and serve a purpose as useful references for those who look for content.
But I think a more advanced stage to be aimed is to write not merely
descriptive but analytical papers in which one not only tries to present
facts but also try to establish/ prove a point/ thesis.
In such papers presenting facts comes always within the context of
serving as arguments to prove a point. Looking from this point of view
there are contributions showing signs of capacity for experiment.
Due to limits of space let me just take a few. Ven. Mawatagama
Pemanandaâs discussion on language clearly shows that the author tries
to say something worth saying. But the treatment could have been more
focused and pointed. When we try to say too much finally we end up
saying almost nothing.
The discussion on the logical method in the Kathavatthu by Ven.
Hettimulle Rahula and the one on the methodology used in Buddhist
philosophy by Ven. Dunukewatte Gunaratana deal with less trodden areas
of Buddhist studies among our scholars.
The logic behind the dialogues in the Kathavatthu has to be unearthed
and clearly articulated. Ven. Rahulaâs discussion ends without really
proving any of his own theses as to what this method is all about.
Ven. Gunaratana also touches this Abhidhamma book in the last part of
his discussion without showing any direction towards a final conclusion.
What they still need to know is that they should adopt an objective
attitude in dealing with these (or any type of) subjects.
If they start with the assumption that they are dealing with the best
logical system in the universe, they cannot go too far! If that comes as
a result of comprehensive analysis of all the logical systems in the
world let that be so. But it is very unlikely that one can do such a
gigantic task within the limits of an academic paper.
Finally, I would like to make a suggestion on a procedural matter:
most of the papers published could have been improved, made concise,
precise, and better organised if these papers were reviewed by other
scholars.
Although this is not fully practised among our scholars it is time
all our academic journals adopt a reviewing process as a necessity.
Besides it is part and parcel of academic humility that we as scholars
show what we write to our seniors or colleagues for their comments.
I see in the journal a need to have more care for observing stylistic
conventions, and accuracy in grammar and spelling in both Sinhala and
English languages.
All these are suggestions for the future. Quality is not something we
achieve overnight; it is a virtue to be developed over time with a lot
of practice and patience.
I congratulate again the academic community of the BPU for their hard
work and dedication for academic excellence.
The reviewer is Director, Postgraduate Institute of Pali and Buddhist
Studies (University of Kelaniya)
Overview of legislative framework of insurance
Legal and
Regulatory Framework relating to Insurance in South Asian Countries
Edited by D. C. Jayasuriya
Published by South Asia Insurance
Regulatory Forum
Review: Dr. Wimal WICKRAMASINGHE
INSURANCE: At the outset this compendium does not contain the
year of publication resulting in the reader not knowing the period of
this update.
This book is an overview of the legislative and regulatory framework
relating to insurance in Bhutan, India, Nepal and Sri Lanka dealing with
98 aspects that are of relevance to regulators, insurers and other
market participators.
The object of the present review is not to summarize the contents
relating to these countries but to enlighten the reader with an exercise
in order to profit from this compendium in the field of insurance in Sri
Lanka.
All these four countries have principal laws pertaining to insurance,
for example, the Financial Institution Act of Bhutan (1992), the
Insurance Regulatory and Development Authority Act (1999), Insurance Act
(1992) and the Regulation of Insurance Industry Act (2000).
The regulatory authorities are the Royal Monetary Authority of
Bhutan, the Insurance Regulatory and Development Authority of India, the
Insurance Board of Nepal and the Insurance Board of Sri Lanka.
All have the legislative power to supervise and regulate the
insurance industry in their respective countries.
Foreign equity
Coming back to Sri Lanka, the Insurance Board of Sri Lanka can issue
rules independently and draft regulations are submitted to the Ministry
of Finance which have to be finally approved by Parliament.
While other countries have licensing manuals on guidelines, no
specific guidelines are available in Sri Lanka, only the Act demanding
compliance of the provisions of the Act and stipulating the documents
that have to be submitted to the IBSL on a regular basis.
Separate licences are issued for each class of insurance, i.e., long
term (life) insurance and general insurance, without them being renewed
annually.
Insurance Agents and surveyors are not licensed by the Board and only
the insurers and brokers are appointed by the IBSL in compliance with
the provisions of the Regulation of the Insurance Industry Act (RIIA).
While foreigners are allowed to own insurance companies in Sri Lanka
with its paid up capital being up to 100 per cent, India restricts
foreign equity to 26 per cent. Insurance companies are prohibited from
investing in brokering companies.
Although approval is said to be needed - not in the law - for opening
or closing of branches, the present reviewer does not think that
insurance companies in Sri Lanka do comply with the requirement.
There are some other rules which are not followed by insurance
companies. One notable thing is engagement in bancassurance by some
commercial banks that engage in insurance business on behalf of the
insurance companies as a one-stop shop.
The reason for this practice is that in terms of the RIIA, only the
individuals could function as insurance agents - not the corporate
bodies.
The present reviewer suggested to the IBSL as far back as early 2005
that this anomaly be corrected by an amendment to the Act, so that the
corporate bodies could also function as insurance agents legitimizing
the business of bancassurance.
legislative process
The IBSL responded positively to this suggestion but it takes time
for the legislative process to come into operation.
Until recently, employment by insurance companies of insurance agents
who have not passed the pre-qualification examination was done though
the stipulation to this effect was carried out under the Insurance Agent
Qualification Rules, 2002 and made effective from August 30, 2002.
But by end 2005, the IBSL made these rules effective and the
insurance companies had to fall in line though those who were in
business as insurance agents for more than 10 years were exempted from
these regulations.
At the moment this regulation is only applicable to life insurance
business and this would be made applicable soon to those who engage in
general insurance.
Unlike in other countries, agricultural insurance, export credit
insurance and social security insurance are administered by separate
laws.
Reinsurance companies are not operative in Sri Lanka but in case such
a reinsurance company is to be established, it needs approval from the
IBSL.
Nevertheless, the government in the budget proposals made for 2007
indicated to establish a Reinsurance Trust Fund, taking over the assets
and liabilities of the Strike, Riots and Civil Commotion Fund
administered by the General Treasury.
A revolutionary feature in the proposed Reinsurance Trust Fund is
that all the insurance companies would be required by law to cede at
least 50 per cent of their insurance business to the Fund for
reinsurance cover.
Once this requirement comes into force, reinsurance scenario of Sri
Lanka would undergo a significant change, placing foreign reinsurance
companies coming from various parts of the world into secondary
position.
Advantages
It has a number of advantages from the viewpoint of Sri Lanka, the
most important of which is the saving of a colossal amount of foreign
exchange for the country.
Needless to say that the outflow of foreign exchange in terms of
reinsurance premiums is many times more than the inflow in terms of
settlement of claims by the foreign reinsurance companies, the only
exception being the unprecedented claims that had to be paid into Sri
Lanka on account of the tsunami disaster on December 24, 2004.
Another advantage for Sri Lanka is the renewed bargaining power
vested in insurance companies when negotiating for determination of
reinsurance premiums at the renewal as one monolithic organisation is in
operation within Sri Lanka that can compete effectively with the foreign
reinsurance companies.
Since this organisation is backed by the Sri Lanka Government,
insurance companies can rest assured of the legitimate payment of claims
by the Trust Fund, irrespective of the amount.
In India there is one reinsurance company which is called the General
Insurance Corporation of India (GICI) that also provides reinsurance
facilities to many insurance companies in Sri Lanka.
Corporate Governance, an important and innovative concept embracing
all aspects of administration and financial management, has not been
given pride of place in the insurance laws of Sri Lanka, even in other
two countries but India has gone a step forward though no specific
guidelines have been issued because insurance companies there are
expected to follow the guidelines of the Securities and Exchange Board
of India and establish audit committee.
Maintenance of Solvency Margins in respect of each class of insurance
is a prerequisite for infusing confidence into the minds of the Insured
and this is determined by the IBSL and followed up on quarterly basis.
This is important because these funds are not guaranteed by the
government. Although the IBSL has power to review reinsurance
arrangements, no criteria have been stipulated.
Guidelines
There are many other stipulations and guidelines that are yet to be
formulated in Sri Lanka. Among them are the valuation of assets,
corporate governance, manual for actuarial reviews, enunciation of
supervisory rules on a consolidation basis applicable to insurance
companies and its subsidiaries.
There is a complaint that some insurance companies in Sri Lanka do
cipher their resources to loss-making affiliates - the requirement for
the external auditors of insurance companies to report to the IBSL of
the facts relevant to effective regulation, streamlining of the
procedure for declaration of dividends to ensure that under-capitalized
insurance companies do not engage in this practice, development of
curricular for insurance agents and brokers, etc.
In conclusion, I should say that since of late the IBSL, with the
assistance of foreign actuaries and insurance consultants, is in the
process of tightening practices in financial reporting.
During the period of a liberalized regime, the IBSL has left
insurance companies to engage in insurance business, almost
independently in the fields of development of products, changing of
premium rates, affording of fringe or rider benefits, determination of
the rates of no claim bonuses even for new vehicles and loyalty rebates,
etc.
The IBSL is terribly understaffed, having been in operation for the
last six years, not realizing the gravity of it. Earlier, they were
happy with the issue of licence to new insurance companies as those
operating before 2000 were deemed to have been given license under the
law, conducting monthly meetings with the CEOâs of insurance companies
and the principal office bearers of the Association of Brokers, calling
financial reports on quarterly, semi-quarterly and yearly, etc.
The present reviewer gets an inescapable impression that with the
accumulation of experience in the supervision of insurance companies,
together with the technical support from foreign experts, the IBSL is
now in a better position to direct insurance companies to abide by its
rules and regulations. Violation of such rules by insurance companies is
not reported.
Highly entertaining Malayali folk tales
Sithuwam Sahitha Malayali Janakatha
Author: Sunil Ariyaratne
S. Godage Publishers,
Colombo 10
97 PP, Price Rs. 150
Review: R.S. KARUNARATNE
FOLK TALES: We have read many folk tales coming from different
countries such as Russia and China.
However,
Prof. Sunil Ariyaratne has paved the way for us to enjoy Malayali folk
tales for the first time. Malayali is a major language spoken in India
and it belongs to the family of Tamil languages. Telingu and Kannada are
the other two languages in this family.
Sri Lankans have a close affinity with Kerala where Malayali is
spoken. From time immemorial people of Kerala have visited Sri Lanka
both as friends and enemies.
History tells us that during the Portuguese rule toddy tappers were
brought to Sri Lanka from Kerala. As they sailed from Kochin, they were
called âKochchiâ.
The 25 folk tales included in the book are highly entertaining and
enlightening. Unlike the folk tales coming from Russia or China, these
stories are very familiar to us. In fact, we have almost similar
stories.
For instance, âKoti Valigayaâ (the tigerâs tail) is found in Sinhala
folk tales as âKoti valigaya alla gaththa vageiâ.
The last tale in the collection entitled âOkkoma ave eka theninâ (all
came from the same place) shows the meaninglessness of the caste system
found in the Indian culture. Even the other stories are equally
entertaining.
The authorâs style of narrating the stories is commendable. Sybil
Wettasingheâs illustrations have enhanced their value. |