The Executive Officers’ Union of Sri Lanka’s Central Bank (CBSL) has issued a clarification on the salary increment provided recently. 

The matter came to light after some Members of Parliament at recent Parliament proceedings raised the matter regarding the latest revision of remuneration of employees of the CBSL that was approved by the bank’s Governing Board.

The CBSL also issued a statement, clarifying that the salary increment was provided under the triennial Collective Agreement entered into with the Trade Unions covering the period 2024- 2026. 

Further clarifying the matter, the Executive Officers’ Union of the Central Bank highlighted that the collective agreement for 2024-2026 was a result of negotiation between the management and the unions.

Stating that it is no secret that the central bank’s salaries are higher than other services, the Union said they require a competitive salary to do their jobs without pressure.

“As a result, there is interest in working at the agency and highly qualified young people enter the agency. Central bank staff are also barred from private practice. Due to being a closed service, promotional opportunities are limited,” it said. 

The Union also revealed that around 100 experienced officers have left the Central Bank for multilateral agencies and the drain would have worsened.

The full statement of the Executive Officers’ Union of Sri Lanka’s Central Bank : 

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