Letters to the Editor - Former AG as bank chairman

The Daily FT article published yesterday that stated that a former AG was to be appointed as Chairman of Seylan Bank gave me some concern.

This trend of appointing retired Government servants close to the administrations to top positions in the private sector is a clear indication of the Central Bank trying to impose its doctrine on the banking sector. As the former AG, he must be aware that there is a cooling off period. Is he still an advisor to the Central Bank and the Government?

The other question I have is does the private sector lack the people to run its affairs that the Central Bank needs to get retired people from the public sector to take on top positions in the private sector? The former AG is a top lawyer who defended the Government as its key law officer. He should be representing Sri Lanka in the UN or in Geneva instead of leading Seylan Bank that needs someone with good banking experience and commercial experience. I hope commonsense prevails.



Ranvijith Fernando