Central Banking

Welmega declines Sri Lanka monetary board post

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Newspaper reports said businessman Nimal Welgama has rejected a seat on the monetary board of the Central bank of Sri Lanka due to an ongoing inquiry by the central bank.

Welgama, who was appointed to the board by President Mahinda Rajapakse on July 3, is currently the Managing Director of the Upali Group. The group publishes several newspapers and owns a top confectionary brand.

"Welgama yesterday (Saturday 15 July) declined a place on the Monetary Board saying he would not accept the offer while

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