Board of Directors of People's, BOC and BOI dissolved

Colombo (News1st): The Director Boards of People's Bank, Bank of Ceylon and the Board of Investment (BOI) have been dissolved with effect from midnight yesterday (October 17), following an order issued by the President. A senior officer attached to the Presidential Secretariat confirmed the respective bodies have been informed the decision. Reports claim irregularities had taken place in the respective institutions in the recent past, which led to this decision. The Director General of the BOI resigned last night.