Mismanagement of finance companies

Friday, 20 September 2013 00:38 - - {{hitsCtrl.values.hits}}

I am of the opinion, that if and when a finance institution registered with the Central Bank of Sri Lanka goes bankrupt, the Central Bank and its Governor Ajith Nivard Cabraal should be held responsible and accountable. The Central Bank should provide employment to the employees or grant golden handshakes as compensation for the loss of employment. The CB must also settle all the depositors with the accrued interest to prevent a run on banks. If the CB cannot properly manage a finance company, can we expect it to manage our economy prudentially? Is it partly because of the mismanagement, the COL is soaring day by day? Our country’s economy also may crash some day (God forbid) sometime, similar to these finance companies! If it happens, who will be accountable? God only knows. Over to your readers for their valuable comments. M.Z. Fathima Hafsa Colombo 14

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