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| Seylan chiefs withdrew Rs. 500 billion before the bank is taken over by Bank of Ceylon, says Anura Kumara Disanayaka |
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 (Lanka-e-News, December 30, 2008, 6.10 PM) People's Liberation Front (JVP) parliamentary group leader Anura Kumara Disanayaka says that not only the economic recession but also exceptional causes are behind the collapse of Golden Key Credit Company and Seylan Bank. He also pointed out that the management of the Seylan Bank had withdrawn Rs. 500 billion prior it was taken over by the Bank of Ceylon.
Addressing a press briefing held in Colombo National Library today (30), MP Disanayaka said that the collapse of these two financial institutes reflected the financial crisis brewing in the country.
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He recalled that when JVP pointed out how local economy would fast collapse amid the world financial crisis, the Central Bank Governor Ajith Nivard Cabral who was buttered y President Mahinda Rajapakse as a person who could advise US also to come out of the crisis said that it would not affect Sri Lanka.
MP Disanayaka said that the Central Bank should monitor the assets, liabilities and security deposits of the banks and advise them in the instances the banks are on the verge of risk.
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Disanayaka said that the Central Bank only stated that the financial company run by swindler Sakviti Ranasinge was not registered under the Central Bank after the fraudster fled the country. People would have not been caught in the nets of the racketeers like Sakvithi, 'Severe Punishment' and 'Death Sentence' etc. if the Central Bank performed its duties, said the JVP MP.
When the Central Bank Governor was summoned to the Parliamentary Committee of Public Enterprises (COPE) in August 2006, he promised to act within two months against the financial companies that had not obtained the Financial Board approval, said MP Disanayaka.
Golden Key Credit Company employs 3000 workers, Seylan Bank 9000 and Ceylinco Group of Companies 30,000. Disanayaka said that the President in his capacity as the Minister of Finance should issue a statement in relation to these workers.
He said that the government and the Central Bank demolished the people’s trust on banks. He further said that mere taking over the administration of the Seylan Bank would not solve the financial crisis in the state. |
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| Report by Shantha Wijesuriya |
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