Board of Directors of People’s, BOC and BOI dissolved

People's Bank - Bank of Ceylon and Board of investments Sri Lanka logos

The Boards of Directors of the People’s Bank, Bank of Ceylon (BOC) and Board of Investment (BoI) have been dissolved by President Maithripala Sirisena with effect from last night.

A senior officer attached to the Presidential Secretariat confirmed the respective bodies have been informed the decision.

Reports claim irregularities had taken place in the respective institutions in the recent past, which led to this decision. The Director General of the BOI resigned last night.