Union Bank appoints Dr. Dharmasri Kumaratunge to board

Dr. Dharmasri Kumaratunge

The board of directors of Union Bank announced the appointment of Dr. Dharmasri Kumaratunge as an Independent, Non-Executive Director.

As the bank continues to place a strong emphasis on digital transformation, his extensive experience in banking, finance, technology and public policy will be of immense value to shaping the bank’s strategic direction.
Dr. Kumaratunge brings with him over 35 years of distinguished experience in the fields of banking and finance, financial technology, IT, international trade, payment processing, information and communication technology and digital transformation. His extensive career includes leadership roles at prominent national institutions and international organisations, showcasing his in-depth knowledge of the evolving financial ecosystem. Notably, Dr. Kumaratunge served as Assistant Governor of the Central Bank of Sri Lanka (CBSL) and held the position of Director of the Payments and Settlements Department at the CBSL from 2016 to 2022. He has also been at the forefront of Sri Lanka’s digital transformation, serving as Secretary to the Technology Ministry until September 2024. His work at the CBSL, coupled with his tenure as Chairman of the Telecommunications Regulatory Commission of Sri Lanka and Information and Communication Technology Agency, has been instrumental in advancing key sectors of Sri Lanka’s economy. Additionally, he has been actively involved in several committees including the Cabinet-appointed committees focused on exploring digital banking, blockchain technology, open banking, shared KYC and the efficient utilisation of financial systems.

In his current role as a Consultant for Public Policy at Mastercard Sri Lanka and the Maldives, Dr. Kumaratunge continues to contribute significantly to the growth of financial services in the region. His expertise has also been sought by various international bodies, including the International Trade Centre (UN) and Asian Clearing Union (ACU), where he served as Alternate Country Director. Additionally, he has been actively involved in several committees focused on exploring digital banking, blockchain technology and efficient utilisation of financial systems.