Written by Tharushan Fernando
20 Oct, 2016 | 10:13 pm
Like the widely discussed Central Bank bond controversy, another banking debacle has taken place under the government of good governance. The civil society is calling for investigations to be launched, and for those responsible for the current situation of the Lankaputhra Development Bank, to be punished.
This task should be spearheaded by the central bank. If it fails to act in such instances then the question arises, why does the country require a Central Bank?
This individual who was appointed as the head of the Lankaputhra development bank under the government of good governance, was removed from his position based on two reasons. Please watch video.
The Central Bank may be attempting to showcase that they have taken actions based solely on this decision. However both the former and current Central Bank governors have adopted a policy of evading the topic whenever the position of head of the Lankaputhra Bank comes up for discussion.
Chairpersons for state banks are appointed based on political affiliations and not on credentials. However it is difficult to find individuals who rose to such positions in this manner acting in defiance of Central Bank directives, solely on the strength of their political backing.
However even though this individual was removed from his position, he is in a place where he could intervene in the activities of the bank.
The Lankaputhra Development Bank branches in Thambuthegama and Akuressa stand as concrete evidence of the brazen activities conducted by this individual, in defiance of the Central Bank.
Both branches were declared open in a backdrop where the Central Bank instructed the Lankaputhra Bank not to open the said branches. The activities of the Lankaputhra Bank ought to raise the eyebrows of Central Bank as well as government officials
Action TV will reveal details of how the former chairperson of the Lankaputhra Bank, and his close associated turned the Lankaputhra Bank into their own buffet.
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