NO request from any state body to close accounts with People's Bank

COLOMBO (News 1st); People's Bank on Friday (17) said that it had not received any direct or indirect requests or instructions from any state institution to close their accounts with People's Bank.

"We wish to strongly emphasize that People's Bank has always been a trusted partner for state organization in providing reliable banking service, including instances where such services were provided at the expense of profitability, in order to serve the country's best interests," said a statement.

People's Bank issued this statement in order to clarify the misleading reports regarding State Institutions' Bank Accounts.

It said that People's Bank is well-equipped to meet the financial needs of all Public and private Sector customers.

On Thursday (16), it was reported that the Ministry of Finance had decided to open the bank accounts of government institutions, which were maintained only in government banks, in private banks.

State Finance Minister Shehan Semasinghe stated that due to recent strikes, certain public services could not be provided due to the disruption of the services.

He said that this new alternate security measure adopted in order to continue public services during such a situation.