The Institute was inaugurated on 31st July 1986. It was incorporated by Act of Parliament No. 67 on 17th December 1988. The Institute is the successor to the Sri Lanka Management Association, which was inaugurated on 5th May 1978 with Mr. Mallory E. Wijesinghe and the late Mr. Cyril S. Chinniah as President and Secretary respectively. Officers and Members of the Sri Lanka Management Association in good standing became, ipso facto, Officers and Members of the Institute on the date of inauguration and Incorporation. 

The Institute was inaugurated on 5th May 1978 by the late Honble. Cyril Mathew the then Minister of Industries and Scientific Affairs at the National Institute of Business Management premises. The Convenor of the meeting was Mr. Mallory E. Wijesinghe the then Chairman of Bartleet and Company Ltd as Chairman of the Steering Committee. 

As per the records the Founder Members had been Mr. Mallory E. Wijesinghe (President), Brig. C P Caldera (Vice President), Mr. R G G O Gunasekera (Vice President), Mr. Lalit Godamune (Vice President), Mr. C S Chinniah (Hony. Secretary), Mr. P S Mahawatte (Hony. Treasurer) and Mrs. Ramola Sivasundaram (Hony. Asst. Secretary). The others who were associated as members at the time of the founding of the Institute were Mr. S T Arulampalam, Mr. S G Premakantha, Mr. P A Silva, Mr. J V Thamber, Mr. Mansoor Ghouse, Mr. K H S Gunatilake, Brig. G R Jayasinghe, Dr. D S Bandarage and Mr. Sunil G Wijesinha

OUR PREDECESSORS IN OFFICE THEN AND NOW

Presidents

Honorary Secretaries

Honorary Treasurers