Friday March 22, 2019

Sri Lanka Insurance sacks Ravi's BIL Bangsa Jayah

By Our Political Correspondent

Oct 12, 2017 18:33 PM GMT+0530 | 3 Comment(s)

ECONOMYNEXT - Sri Lanka's state-run insurance giant has sacked its Joint Managing Director T. M. R. Bangsa Jayah, the brother-in-law of former finance minister Ravi Karunanayake, officials said today.

Bangsa Jayah, an appointee of Karunanayake, refused to step down to allow the ministry of State Enterprise Development carry out a restructuring of Sri Lanka Insurance (SLC) forcing his sacking, the official said.

"The minister (Kabir Hashim) has decided to make SLC more effective by getting a professional management team," the official said. "For that to take effect, everyone was asked to step down, but Mr. Bangsa Jayah refused."

He was given marching orders following a board meeting on Wednesday evening. He is expected to be expelled from SLC board too. SLI chairman Hemaka Amarasuriya is to be retained as chairman of SLI.

The sacking of Bangsa Jayah comes in the wake of a suspension of another Karunanayake appointee, Shalil Munasinghe, who headed the SLC subsidiary Litro Gas.

Munasinghe was arrested earlier this week in connection with a 1.3 million dollar Taiwan bank robbery following a hacking attack against the financial institution last week.

Much of the stolen money had been wired to accounts Munasinghe had set up.

Police said yesterday that the entire loot that was wired to Sri Lanka has now been recovered and steps will be taken shortly to repatriate the cash to Taiwan. (COLOMBO, October 12, 2017)


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  1. ED October 13, 02:13 AM

    Where is Yahapalanaya. Who gives permission to appoint Chairmen and directors in companies as soon as new government is elected? This is a violation of worker rights if appointmenis politically inclined and all these appointments can be given unless there are ethical evaluation and the need to gear up the said government department and also whoever is brought in has to be 100 scrutinized to know i the said candiadate is capable of handling such position.

    Also 120 days is quite sufficient to identify ones competitiveness. Otherwise it is considered a corrupt policy.

  2. indira October 13, 01:28 AM

    its Shame Ravi. Are you still wearing a trouser and jacket can u do that. shame to the entire UNP and the whole country.

  3. Milla October 12, 10:15 AM

    Well done . Get these jokers out . Next should be the jokers running Srilankan Airlnes

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