Central Bank appoints committee to probe irregularities in finance leasing businesses

Central Bank of Sri Lanka

A three-member committee was appointed by the Governor of the Central Bank of Sri Lanka, Professor W. D. Lakshman, to probe irregularities at financial institutions and leasing companies.

President’s Counsel Harigupta Rohanadeera will chair the committee while Legal Director at the Central Bank KGP Sirikumara and Director of the Non-Bank Finance and Leasing Sector Unit of the Central Bank JP Gamlath have been appointed as members.

The committee is tasked with probing the leasing and financing facilities offered by Financial Institutions which are not registered with the Central Bank and making necessary recommendations.

Further, it is tasked with probing the various unlawful acts committed by registered financial institutions & management and to make necessary recommendations.

The committee has also been instructed to compile a comprehensive report on its findings along with recommendations from legal experts and professionals within 14 days.