Three-member committee to probe leasing and finance company irregularities

Thursday, 18 June 2020 00:30 - - {{hitsCtrl.values.hits}}

Members to investigate unlicensed finance and leasing companies
Report to be presented within 14 days

Central Bank Governor Prof. W.D. Lakshman has appointed a three-member committee to probe alleged irregular and unlawful activities at finance and leasing companies, the President’s Media Division (PMD) said yesterday.

Director General (Legal) to the President Attorney-at-Law Hariguptha Rohanadheera chairs the Committee while the Director of Legal and Compliance Department of the Central Bank K. G.G. Sirikumara and the Director Supervision of Non-Bank Financial Institutions at the Central Bank J. P Gamlath are the other members.

The Committee had been entrusted with the task of probing activities carried out especially by finance companies which have not registered under the Central Bank while offering leasing and finance services, and unacceptable practices in the regulated establishments carrying out finance business and to propose steps that can be introduced to manage the issues identified.

The Central Bank Governor had informed the Committee to obtain the assistance of the experts in the banking and legal sectors while preparing the report within the stipulated time frame. The report of the Committee is to be submitted within 14 days.

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