CBSL seeks opportunity to explain salary hike

As the Central Bank has come under fresh spotlight for the recent salary hike, the financial sector regulator yesterday said it has made a request to President Ranil Wickremesinghe to set the record straight.

In response to parliamentary concerns, the Governing Board has instructed the CBSL Governor to formally request an opportunity to brief parliament through the Minister of Finance, as it’s customary. 

Accordingly, a request was made on 22 February 2024, seeking to explain the process and reasoning behind the recent remuneration revisions. The Governing Board, responsible for approving the latest remuneration adjustments under the triennial Collective Agreement with Trade Unions for 2024-2026, convened on 21st February 2024 to address the issue.

“CBSL will explain its position upon being offered the requested opportunity or on receipt of a request for information,” the institution said in a statement to the media yesterday.

Last week, the Central Bank announced significant salary increases for its employees, ranging from 27 percent to 70 percent.