Latest addition to banking literature in Sri Lanka by Ravi Molligoda

The latest addition to banking literature in Sri Lanka is the book titled ‘The Law Relating to Commercial Banks in Sri Lanka (Operations)’ authored by Ravi Molligoda, former AGM of People’s Bank, FCIB (LOND) and Attorney-at-Law.

The book is in Sinhala and runs into nearly 600 pages. This book comprehensively covers the banker/customer relationship, the paying bank, the collecting bank and types of bank accounts. 

It appears that the aim of the author has been to provide the branch bankers with basic principles of banking law to enable them to easily find solutions for the day-to-day problems.

The contents of the book have been presented in concise and simple terms. It is apparent that the author has dispensed his knowledge in the same style he had used while he was a lecturer in banking at The Institute of Bankers of Sri Lanka.

The laws relevant to bankers, in recent legislative enactments such as, The Payment and Settlement Systems Act, The Financial Transaction Reporting Act and the Companies Act 2007, have been presented in a lucid manner. He has also dealt extensively with the Cheque Imaging and Truncation clearing system.

The book is laced with over 200 legal judgments which would assist the busy branch banker.

There is no doubt that due to Ravi’s effort a wide knowledge gap in branch banking has been filled.

We think that every branch banker should have a copy of this book within his reach.