Colombo, Sri Lanka – 03 September 2026 – Alliance Finance Company PLC (AFCL), a venerable institution in Sri Lanka’s financial sector, has officially announced the reconstitution of its mandatory Board Sub-Committees. This strategic move, effective from September 1, 2026, underscores the company’s continuous commitment to robust corporate governance, regulatory compliance, and enhanced operational oversight.
The decision to reconfigure these crucial committees stems from a recommendation put forth by the Board Nomination & Governance Committee on August 31, 2026. Subsequently, the Board of Directors of Alliance Finance Company PLC granted its approval via a circular resolution dated September 1, 2026, ensuring immediate implementation.
This re-constitution aligns with Rule 9.10.3 of the Colombo Stock Exchange (CSE) Listing Rules, demonstrating AFCL’s adherence to stringent regulatory frameworks and best practices in corporate administration. The updated compositions are designed to bring fresh perspectives and reinforce independent oversight across key functional areas.
Key Reconstituted Board Sub-Committees and Members:
Board Integrated Risk Management Committee
This committee is vital for overseeing the company’s overall risk framework, ensuring resilience and stability in a dynamic economic environment. Its new composition is as follows:
- Dr. D.L.I. Hettiarachchi – (Chairman), (Independent, Non-Executive)
- Mrs. C.S.T. Dharmakirti-Herath – (Member), (Independent, Non-Executive)
- Mrs. P. de Silva – (Member), (Independent, Non-Executive)
- Mrs. D.M.S.D. De Z.S. Ellepola – (Member), (Non-Independent, Non-Executive)
Board Human Resources & Remuneration Committee
Responsible for strategic human resource management, executive remuneration, and talent development, this committee plays a crucial role in AFCL’s organizational effectiveness:
- Dr. D.L.I. Hettiarachchi – (Chairman), (Independent, Non-Executive)
- Mrs. G.S.T. Dharmakirti-Herath – (Member), (Independent, Non-Executive)
- Mr. L.J.H. de Silva – (Member), (Non-Independent, Non-Executive)
- Mrs. D.M.S.D. De Z.S. Ellepola – (Member), (Non-Independent, Non-Executive)
Board Nomination & Governance Committee
This committee is fundamental to ensuring proper board structure, effective governance, and succession planning. Its reconstituted membership is:
- Dr. D.L.I. Hettiarachchi – (Chairperson), (Independent, Non-Executive)
- Mrs. G.S.T. Dharmakirti-Herath – (Member), (Independent, Non-Executive)
- Mr. D.F.W. Perera – (Member), (Non-Independent, Non-Executive)
- Mrs. D.M.S.D. De Z.S. Ellepola – (Member), (Non-Independent, Non-Executive)
The consistent appointment of Dr. D.L.I. Hettiarachchi as Chairman across all three key committees, leveraging his Independent, Non-Executive status, signals a strong emphasis on impartiality and robust oversight at the highest levels of the company. These changes are expected to further enhance the strategic direction, risk management capabilities, and overall corporate governance framework of Alliance Finance Company PLC, a company proudly serving Sri Lanka since 1956.
These proactive measures by AFCL reinforce its dedication to maintaining transparency, accountability, and best-in-class governance standards, ultimately benefiting its shareholders, customers, and all stakeholders.
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