Colombo, Sri Lanka – 24 September 2026 – UB Finance PLC, a prominent financial institution listed on the Colombo Stock Exchange (CSE), today announced the reconstitution of its Board Sub-Committees, effective from September 23, 2026. This significant organizational update, approved by the Board of Directors at a meeting held yesterday, adheres to Section 9 of the Listing Rules of the Colombo Stock Exchange, reinforcing the company’s commitment to robust corporate governance and transparent operational oversight.
Strengthening Oversight and Compliance
The reconstitution of Board Sub-Committees is a critical strategic move for any listed entity aiming to enhance its operational efficiency, risk management capabilities, and overall transparency. These specialized committees play a pivotal role in providing independent oversight, guiding strategic decisions, and ensuring strict adherence to regulatory frameworks. For UB Finance PLC, this proactive re-evaluation of committee structures underscores its unwavering dedication to upholding the highest standards of corporate responsibility and fostering investor confidence within the dynamic Sri Lankan financial market.
Key Changes in Committee Composition
The newly structured Board Sub-Committees, with their updated compositions, are designed to leverage diverse expertise and perspectives. The new lineup, effective immediately from September 23, 2026, integrates a balanced mix of Independent Non-Executive Directors (INED) and Non-Independent Non-Executive Directors (NINED) across all key functions. The detailed compositions are as follows:
- Board Audit Committee: This crucial committee will now be chaired by Mr. Raj Moahan Balendra (INED), with Mr. R. M. Mohan J. Ratnayake (INED) and Mr. Sanjay Pokhrel (NINED) serving as members.
- Board Integrated Risk Management Committee: Chaired by Mr. R. M. Mohan J. Ratnayake (INED), its members include Mr. Sabry Ghouse (INED / Board Chairman) and Mr. Lathika Sampath Weerasinghe (NINED).
- Board Credit Committee: Mr. Sabry Ghouse (INED / Board Chairman) will lead this committee, supported by Mr. Dilshan Peter Rodrigo (NINED) and Mr. Lathika Sampath Weerasinghe (NINED).
- Board Human Resources & Remuneration Committee: Senior Prof. Ajantha S. Dharmasiri (INED) takes the helm as Chairman, with Mr. Raj Moahan Balendra (INED) and Mr. R. M. Mohan J. Ratnayake (INED) contributing as members.
- Board Related Party Transactions Review Committee: This essential oversight committee will be chaired by Mr. Raj Moahan Balendra (INED), with Mr. Sabry Ghouse (INED) and Senior Prof. Ajantha S. Dharmasiri (INED) completing its membership.
- Board Nomination & Governance Committee: Senior Prof. Ajantha S. Dharmasiri (INED) serves as the Chairman, alongside Mr. R. M. Mohan J. Ratnayake (INED) and Mr. Sanjay Pokhrel (NINED).
- Board Strategic Planning Committee: Chaired by Mr. Dilshan Peter Rodrigo (NINED), the committee’s members include Mr. Sabry Ghouse (INED) and Mr. Sanjay Pokhrel (NINED).
- Board Information Security & IT Steering Committee: Mr. Sabry Ghouse (INED / Board Chairman) chairs this vital committee, with Mr. Dilshan Peter Rodrigo (NINED) and Mr. Lathika Sampath Weerasinghe (NINED) as members.
This strategic reconstitution reflects UB Finance PLC’s proactive approach to corporate governance, ensuring that its board committees are optimally structured to navigate the evolving financial landscape, manage inherent risks effectively, and uphold robust stakeholder trust in the highly competitive Sri Lankan market.
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