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Mr. Ajith Nivard Cabraal was the twelfth Governor, assuming duties in July 2006 and vacating his position in January 2015.

Mr. Cabraal was educated at St. Peter’s College, Colombo and is a Chartered Accountant by profession. He is a Past President of the Institute of Chartered Accountants of Sri Lanka and South Asian Federation of Accountants. Mr. Cabraal was an internationally recognised consultant in Corporate Governance and was the Chairman of the Corporate Governance Committee which developed the first Code of Best Practice on Corporate Governance in Sri Lanka.

Prior to his appointment as Governor, Mr. Cabraal was Advisor to the President of Sri Lanka on Economic Affairs and served as Secretary to the Ministry of Plan Implementation. He was closely associated in the development of the Policy Framework and Development Plan for the Government. He also served as a member of the Board of the Strategic Enterprises Management Agency.

Prior to his state appointments, Mr.Cabraal functioned as a management consultant specializing in Business Revival and Turnarounds, Planning and Corporate Governance. During this period he served as Chairman and/or Director of many quoted and unquoted public companies as well. He has served on the Boards of the Securities and Exchange Commission, National Institute of Business Management, Post Graduate Institute of Management and the University of Moratuwa.

Mr. Cabraal was also a Fellow in the 2000 Multi- Nation programme of the Eisenhower Foundation, USA.