Priyantha Fernando joins LOLC

Former Deputy Governor of the Central Bank and ex-officio commission member of the Securities Exchange Commission Priyantha Fernando has joined LOlC Group as a Director of Commercial leasing and Finance ltd.

Fernando counts more than 35 years of experience in the banking sector, financial sector regulation, information technology, national accounting and statistics, finance and fund management. At the Central Bank he was the chairman of the Financial Stability Committee, member of the Monetary Policy Committee, member of t he Risk Management Committee, Chairman of t he National Payment Council.

He was a former board member in several regulatory organizations such as the Securities and Exchange Commission, the Insurance Board of Sri Lanka, the Chairman of the Credit Information Bureau, institute of Bankers -Sri Lanka and has also served as a Board Member at Employers Trust Fund, Lanka Clear Pvt ltd and Lanka Financial Services Bureau.

Meanwhile LOLC also announced the resignation of Rajan Asiriwatham from the Board of LOLC.

He functioned as the Director of Lanka Orix Leasing Company from 2008 has informed the company of his intention to resign from the post he holds in order to avoid the occurrence of a personal conflict ct of interest. He has stressed that a business transaction with regard to the acquisition of a property on a long term lease between one of the Browns Group companies and the Church of Ceylon, of which he hold a position of a Trustee has placed him in a situation of conflict of interest with the duties he required to perform towards the Church.

The above situation has reluctantly compelled him to consider resigning from the Boards of these two companies as he wishes to continue to hold office as a Trustee of the Church of Ceylon.