Committee seeks information from public on malpractices at State banks

A committee appointed to probe malpractices and irregularities at state banks has decided to obtain public assistance to collect information on such incidents.

The committee is investigating malpractices at four State banks in the country and affiliated institutions which occurred from 2015-2019.

The committee which was appointed last week intends to obtain information on allegations of irregularities, unproductive measures, and instances where action was taken contrary to the objectives reported at the banks from 08 January 2015.

The Ministry of Finance said the investigation will focus on the Bank of Ceylon, People’s Bank, National Development Bank, Regional Development Bank and affiliated institutions.

The Committee has requested the public with information on such allegations to submit such information by post or by email via before 15 September.

The committee, which was appointed by Prime Minister Mahinda Rajapaksa in his capacity as the Minister of Finance to strengthen the economy and regulate state banks, had decided to obtain public assistance during its first meeting.

During the meeting, trade unions members from the four state banks are said to have submitted a number of letters to the Committee pertaining to allegations of malpractices and irregularities at the financial institutions. (Colombo Gazette)