Rani Jayamaha and Sanjeeva Jayawardena, longstanding members representing the monetary board of the Central Bank of Sri Lanka, are set to step down from their positions. These individuals have served on the monetary board for many years.

This decision follows the implementation of the new Central Bank of Sri Lanka Act, which grants the President, who also holds the position of Finance Minister, the authority to appoint new members to the Finance Board. In the past, the Finance Board was limited to five members, but the new Act has expanded its membership to nine.

High-level sources have indicated that additional new members will be appointed to the Finance Board in the near future, in accordance with the provisions of the new Act.