In that background, it is vital that the country is not pushed into “foreign-grown” solutions of international agencies and others, who unfortunately, sometimes appear to be influenced by certain human rights crusaders, who have been well- known terror activists in the past. It is also worthy to recall that, in its commitment to the principle of restorative justice following the conflict, the Sri Lankan government has already granted amnesty to more than 11,000  2  BIS central bankers’ speeches  former Tamil Tiger terrorists, some of whom have even committed grave crimes. In such circumstances, if the government were to open new investigations as proposed by some, it could turn the clock back and cause great anxiety to those offenders who have been forgiven, and may even lead to some of them reverting back to violence. At the same time, some of the proposed “foreign” interventions that seem to be narrowly focused on the conduct of the Sri Lankan armed forces only, could also be construed as unfair and/or selective treatment towards the Sri Lankan armed forces who defeated terrorism, and could lead to a consequent de-stabilization of the country. Practical wisdom would therefore suggest that reconciliation between communities must be allowed to follow a “home-grown” path in keeping with the time and space as set out by those who suffered the agony of terror, and those who are today responsible for maintaining the peace in the country.
Caleb M Fundanga: Bank of Zambia Risk Management Framework Opening remarks by Dr Caleb M Fundanga, Governor of the Bank of Zambia, at the Risk Management Framework Sensitisation Workshop for Board of Directors, Chisamba, 24-26 November 2006. *  *  *  • Chairperson • Directors • Ladies and Gentlemen I wish to welcome you all to the first in the series of the Risk Management Framework Sensitisation Workshops organised by the Risk Management Department. As the Directors are, no doubt aware, the Board approved the establishment of a Risk Management function at the Bank of Zambia in February 2006. Following this approval, the Risk Management department was created to, among other duties, coordinate Bank-wide risk management activities, for which Heads of Departments remain primarily responsible. In this regard, my vision is to move the Bank to a position where risk management becomes our way of doing things. This workshop, therefore, is one critical step towards achieving this vision. Directors would agree with me that Risk Management has always been part and parcel of the financial sector, and as financial industry authorities, central banks are no exception to this. The increasing pace of globalisation, largely, on account of advancements in Information and Communication Technologies (ICT), has provided an added impetus for institutions to strengthen their governance structures, including implementing enterprise-wide risk management strategies. It is for this reason, therefore, that the Bank, like other world-class central banks, decided to position itself, in this fast-changing financial landscape, by incorporating risk management in its operations.