CBSL senior management to revisit recent salary revision

The recent salary revision for the period 2024-2026 made by the Central Bank of Sri Lanka (CBSL), post the collective agreement between the Governing Board and the employee representatives, created much discourse among the public.

In response to this situation, a majority of the senior management and professionals of CBSL made a collective decision to consider a revision to their salaries.

This decision was communicated to the Committee on Public Finance (COPF) on March 16, 2024, before and independent of the recommendations made by COPF.

The COPF Chairman has meantime recommended that the collective agreement to increase salaries of CBSL staff be reviewed by an independent committee, entailing revisions across all employee categories of CBSL.

The CBSL, as the apex financial institution in the country, functions autonomously using the powers vested to it, previously under the Monetary Law Act, No. 58 of 1949 and now under the CBSL Act, No. 16 of 2023. The CBSL is held accountable for achieving and maintaining domestic price stability and securing the stability of the country’s financial system.

To achieve this critical National mandate, the CBSL employs many experienced and professional staff under its wing and the recent salary revision was made to retain its experienced staff to function at its full capacity.

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