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The Central Bank of Sri Lanka Responds to Media Reports on Remuneration Revision

In light of recent media reports addressing comments made by Members of Parliament regarding the latest revision of remuneration for Central Bank of Sri Lanka (CBSL) employees, the CBSL has issued a statement today. The central bank underscores its unwavering commitment to transparency and accountability in its operational endeavors.

The Governing Board of the CBSL convened on 21.02.2024, directing the Governor to formally request an opportunity to address Members of Parliament through an appropriate parliamentary committee. This formal request aligns with Section 80 (2) (b) of the Central Bank of Sri Lanka Act No. 16 of 2023. The primary objective is to elucidate the process and rationale behind the recent remuneration revision, duly sanctioned under the triennial Collective Agreement with Trade Unions, covering the period 2024-2026.

On 22.02.2024, the Governor of CBSL submitted a written request to the President, who concurrently serves as the Minister of Finance and serves as the conduit through which CBSL communicates with Parliament. This request seeks an opportunity to apprise Members of Parliament of the factors underpinning the remuneration adjustment for CBSL staff.

Furthermore, the CBSL reiterates its eagerness to provide comprehensive explanations and insights into the decision-making process behind the remuneration revision. This commitment extends either upon being granted the requested opportunity or upon receiving a formal request for information. The central bank remains steadfast in its dedication to fostering understanding and transparency in its operations.

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