Wed. Oct 21st, 2020

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* Committee probing irregularities at State banks extends deadline for accepting complaints
Mon, Sep 21, 2020, 07:20 pm SL Time, ColomboPage News Desk, Sri Lanka.

Sept 21, Colombo: The four-member committee appointed to study and report on irregularities inefficiencies, and malpractices in the four major government banks and affiliated institutions during the period 2015-2019 has extended the deadline for receiving complaints to September 30.

The Committee appointed by the Prime Minister Mahinda Rajapaksa to look into the irregularities committed by state banks and their affiliates during the period of good governance has received over 100 complaints.

The complaints have been lodged by the relevant banks, their affiliated unions and the public.

As the complaints are still being received, the committee said the deadline for receiving complaints would be extended to September 30.

After investigating the relevant complaints, the accused parties will be called and information will be recorded.

This four-member committee has been appointed to systematically study the irregularities that have taken place in the four major State Banks -Bank of Ceylon, People’s Bank, National Savings Bank, and Regional Development Bank – and their affiliates after 08th January 2015, in instances where they have acted contrary to the objectives of the said Institutions and in non-compliance with the provisions and procedures of the Banking Act and on ineffective actions and transactions.

The committee is tasked with making recommendations on legal, financial and administrative measures to be taken to prevent such situations in the future, identifying officials and outsiders responsible for financial losses and to make the state banking system a more people-friendly service.

The Committee was appointed in accordance with the Cabinet Paper presented by the Prime Minister Mahinda Rajapaksa as the Minister of Finance to regularize and streamline the State Banking System to strengthen the National Economy and to look into irregularities in the State Banks.

The committee is chaired by former High Court Judge Sisira Ratnayake. Chartered Accountant Susantha de Silva and retired Additional Auditor General W.S. Mr. Premananda are the other members. A representative of the Ministry of Finance is the Secretary of the Committee.

The Secretary to the Ministry of Finance will submit the report of the committee with the relevant recommendations to the Cabinet within a period of three months.

The Committee requests the public send complaints of any irregularities committed by Bank of Ceylon, People’s Bank, National Savings Bank and Regional Development Bank and their affiliates, to the Director General, Department of Public Enterprises, Ministry of Finance, Secretariat, Colombo 01 before 30th September 2020 or e-mail to [email protected]

** Related Story :: Committee seeks public assistance to obtain information on irregularities in the State Banks


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