2017 Oct 23
Rajendra Theagarajah is a banker with a wealth of experience in the banking and financial services sector and counts over 30 years of experience in banking both locally and internationally.
He served as Director / Chief Executive Officer (CEO) of National Development Bank PLC (NDB) from August 2013 till November 30, 2016. Prior to that, he served as CEO/ Managing Director at Hatton National Bank PLC for 9 years. Mr. Theagarajah was also a past Chairman of Sri Lanka Bankers’ Association (Guarantee) Ltd, Financial Ombudsman Sri Lanka (Guarantee) Ltd, former Director of Colombo Stock Exchange and former Chairman of the Asian Bankers Association. He has also served as a Council Member of the Sri Lanka Institute of Directors. He currently serves as Chairman of the Ceylon Chamber of Commerce and is a past Chairman of the Chartered Institute of Management Accountants (UK) Sri Lanka Governing Board. He is currently a co-opted member in the CIMA UK’s Global Council and also serves as an independent non-executive Director of Carson Cumberbatch PLC. Now, he has picked up the Cargills Umbrella and is the Joint Deputy Chairman.
His illustrious career is coupled with his brilliant mind that has been instrumental in furthering and supporting policies and ideas in all his respective banks. They have applauded him for achieving strong financials with a robust and sophisticated business that straddles a broad range of business lines with strong fee-generating capabilities, it has also enabled the banks to support concrete social initiatives for the country adopting a series of initiatives such as financial education in rural areas through schools, funding drinking water and sanitation projects, launching health awareness programmes, and improving school libraries in rural areas also he played an active role in supporting the internally displaced people affected by the quarter of a century civil strife which ended in 2009.
Mr Theagarajah was the guest of honour at the Canadian Tamils’ Chamber of Commerce gala and awards ceremony in Toronto and his speech resonated with the audience. He expertly navigated through Sri Lanka’s needs and urged those present to utilize hundreds of graduates each year produced by the University of Jaffna’s IT computing program and the new engineering institute of the North in Ariviyal Nagar, Killinochi.
Speaking on the matter, Theagarajah at the ceremony said, “They are hungry and willing. You can offer them access to markets, not assistance to migrate; Sri Lanka needs its talents and workers. You can create a bridge to make use of their talent, give them empowerment to construct their own lifestyle.”
Graduate unemployment has been a major socio-politico-economic problem in the small open economy of Sri Lanka for the past 35 years. The nature of the problem, causal factors and policy responses are examined in this paper with a special focus on the role of higher education within a highly competitive and knowledge-based economic environment. The evidence reveals that the problem of graduate unemployment is not entirely a university problem. It is mostly a structural issue that requires a positive response from both demand and supply sides of the labour market. On the demand side, it involves high economic growth promoted through institutional and policy support, while on the supply side, universities need to be more dynamic and market oriented in the delivery of graduate output.
Theagarajah in his speech at the ceremony also highlighted that we should not build a social welfare state, but to build an entrepreneurially focused new Sri Lanka.
“No handouts, why not engage?” These words rung true in this day and age with Sri Lanka transitioning after the war.
