Jun 21, 2020

CBSL bigwigs getting benefits from finance companies! Featured

There are around 50 highly placed officers at the Central Bank of Sri Lanka who are not implementing the instructions of the government, on the whims of companies and businessmen, the 'Sathi Aga Aruna' weekend publication reports.

The publication alleges that instead of implementing government instructions, these officials are only implementing laws which are beneficial to these companies while enjoying benefits such as monetary gifts and foreign tours.

The newspaper notes that this was the reason behind the delay to implement actions of the President or the Cabinet.
Last week, officials of the CBSL were slammed by president Gotabaya Rajapaksa.

ආර්ථිකය ගොඩනැගීම මහ බැංකුව පැහැර හැරලා - ජනපති from SRI LANKA MIRROR on Vimeo.

These situations have arisen when regulating financial institutions. 
The news reports say that this is apparent in the slowed down implementation of rules by the CBSL against finance companies, microfinance lending institutions, pawnbrokers and corporate institutions and businessmen.
Ravi also confirms
Meanwhile, former Finance minister Ravi Karunanayake has said that such incidents have been revealed for the past five years.

He also said that a Central Bank is not required if all they do is to meet the requirements of the IMF.
New credit programme
Meanwhile, the official website of the Central Bank says that new credit programmes have been implemented to rebuild the economy.