Committee appointed to investigate irregularities in four State banks calls for public input

Saturday, 29 August 2020 00:12 - - {{hitsCtrl.values.hits}}

The committee appointed to investigate alleged irregularities and malpractices that occurred in State banks during the past five years, yesterday called on the public to submit any complaints.

The Finance Ministry, in a statement, said members of the public willing to share information could submit their inputs before 15 September. Information can be sent to the Finance Ministry, Public Enterprises Department Director General, or emailed to [email protected]

The Finance Ministry appointed a four-member committee on 19 August to investigate alleged irregularities, inefficiencies, and malpractices that occurred in four State banks, which include Bank of Ceylon, People’s Bank, National Savings Bank, Regional Development Bank, and affiliated institutions. The committee will also identify officials and outside parties responsible for financial losses.

The committee is led by former High Court Judge Sisira Rathnayake, with a representative of the Finance Ministry acting as the Secretary. The remaining members of the committee are Chartered Accountant Susantha de Silva and retired Additional Auditor General W. Premananda.

The committee will also present recommendations on legal, financial, and administrative measures required to ensure such malpractices do not occur in the future as well as recommendations on offering an improved service through the State banking system.