Colombo- A three-member committee has been appointed by Central Bank of Sri Lanka (CBSL) Governor Prof. W.D. Lakshman to look into illegal activities of finance and leasing institutions and unauthorised finance bodies, President’s Media Division (PMD) said.
The committee comprises of the Director General of Legal Affairs of the Presidential Secretariat, Attorney-at-Law Harigupta Rohanadeera, Director of CBSL Legal and Compliance Department K.G. Sirikumara, and Director of CBSL Department of Supervision of non-Bank Financial Institutions J.P. Gamlath.
The responsibilities of the committee include conducting an industry-wide study on unregulated operators in finance and leasing institutions, and issues with regard to unacceptable practices of regulated establishments carrying out finance/ leasing related business.
The committee is also required to submit a proposal within 14 days on steps that can be taken to solve identified issues.
Source: Ceylon Today