Tuesday 25 February 2020

Professionals Demoted to Politicians

"....the then Governor Cabraal, as well as members of the Monetary Board, namely, Nimal Welgama and Neil Umagiliya, had resigned from office on 9 January 2015, immediately after the presidential election results were announced on 8 January 2015.
These resignations were in contradiction to the Monetary Law Act which stipulates that a governor of the Central Bank of Sri Lanka or an appointed member of the Monetary Board can be removed from office only by the president of the country and that the governor or a member of the Monetary Board must hold office for a full term of six years.
However, Cabraal, Welgama, and Umagiliya deemed it necessary for them to resign when the new President was elected in January 2015, before completion of their six-year term." - The Sunday Morning article '
Cabraal and family links uncovered' by Skanda Gunesekera

I was a bit concerned to note Nimal's name. Nimal & I studied Accountancy together and to date he is a friend. As a professional, I do expect better from fellow professionals. Until the above knowledge - the Bond problem was 'Common' at community level due to Arjuna Mahendran being a Tamil. The more we share the difficult truth - the deeper our insight. Hence I try not to avoid the truth I know. 

When we make political decisions without belief - their other side surfaces. By resigning, Cabraal, Welgama, and Umagiliya confirmed that they were political appointees and NOT professionals in their own minds. The question therefore arises as to whether we are over-regulated? The law must shape the truth. Anything above that is idle and leads to excitement and depression in those who gamble with the law. 

When does a law become idle? When we fail to believe in those from whom we inherited the law and/or respect those from who we learnt the law. The larger and more diverse the group the stronger the need for reliable higher laws. When politicians are driven by outcomes rather than belief in the law - the law gets demoted to lower level of application when those politicians become the government. Given that most of our common laws are inherited from Colonial Rulers - each time we disrespect them - we weaken our own investment in those laws. The greater the influence of 'outcomes' the stronger the tendency to divide and separate. The more we celebrate Independence as 'victory' the greater the separation from the inheritance of English Law and the Roman Dutch Law. Without belief and without current usage as per intellectual discrimination - we tend to gamble with the law - as the above group seems to have done. It's a negative heritage that needs to addressed if we are to enjoy the values of professionalism.

All of them contributed to the Bond problem

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