Dr. Kenneth De Zilwa appointed...

Dr. Kenneth De Zilwa has been appointed to the Monetary Policy Consultative Committee (MPCC) of the Central Bank by the Central Bank Governor Prof. W.D. Lakshaman.

De Zilwa has been working as a senior banker for over a period of 15 years. He has worked as Head of Fixed Income Currencies and Commodities at Citi and also Head of Global Markets Sale HSBC Colombo.

He holds multidisciplinary qualifications in development economics, banking and management. They include, an MA in Economics for Development from the Erasmus University of Rotterdam, Netherlands, MA in Economics and also a Postgraduate Diploma in Development Economics, both from the University of Colombo.

He also holds a Postgraduate Diploma in Banking & Management from the Institute of Bankers.

He has significant insight into risk management tools/ products, functionality of money markets, debt markets, both domestic and international, charting theory and balance sheet management.

De Zilwa held senior posts in financial markets and has been instrumental in developing Sri Lankan financial markets during his capacity as President Sri Lanka Forex Association, a member of the ACI.

He was also a member of the ACI task force, entrusted to enact financial market model code and assisted Central Bank in drafting of derivative guidelines for Banks.

The Central Bank set up the MPCC in 20074 to improve the monetary policy decision making process.

The MPCC general consists of a cross section of stakeholders from the private sector and academia that the bank could take into consideration their views in formulating the monetary policy stance.

The primary role of MPCC is to represent the view and sentiments of the private sector and academia on developments in the economy and provide recommendations that would be communicated to the Monetary Policy Committee and the Monetary Board, enabling the Central Bank to take informed monetary policy decisions in a more consultative manner.