Three member CB committee to look into irregularities at financial & leasing companies

The Central Bank has appointed a three-member committee to look into irregularities at financial and leasing companies, the President’s Media Division said.

The committee appointed by Central Bank Governor Professor W. D. Lakshman is headed by Director General of Legal Affairs at the Presidential Secretariat, Harigupta Rohanadeera.

The other two members are 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,”the PMD said.