Fernando previously functioned as the Chairman of the People’s Bank but resigned from the position as Sirisena directed the subject minister to reconstitute the boards of the two main state banks – Bank of Ceylon and People’s Bank.
Sirisena ordered the subject minister to reconstitute the two director boards claiming that there were multiple corruption allegations against their members.
Contradicting his own order, Sirisena has now appointed the former Chairman of the People’s Bank – the man who presided over a director board plagued with corruption – as the Chairman of BOI, another state institution Sirisena wanted to re-organize.
The new position has been given to Fernando in addition to his current post as the Chief of Staff of the President.
Sirisena also appointed Fernando as his own Chief of Staff nearly two months ago while the latter was still holding the position as the Chairman of People’s Bank, heading a “corrupt director board.”
Fernando is the third BOI Chairman since the current government came to power. The first Chairman, Upul Jayasuriya appointed by the current government resigned from his position in July 2017 paving the way for Dumindra Ratnayake to take up the position. Ratnayake resigned from his position last week after Sirisena announced his plans to appoint a new board of directors to BOI.