Quid Pro Quo

The ethics of Central Bank of Sri Lanka (CBSL) Governor Ajith Nivard Cabraal asking banks for donations to boost Sri Lanka’s Commonwealth Games bid was supported by a Monetary Board of Sri Lanka member  when the matter came up for discussion with this reporter recently.
N.A. Umagiliya justified that request on the basis that banks allegedly “rip-off” both the depositor and the borrower.
However, it’s also learnt that a listed manufacturer to whom a similar request was made, coughed up Rs. 75 million. This firm’s parent company was recently fined by the Securities and Exchange Commission for violation of stockmarket rules.
Is it that CBSL/Government of Sri Lanka believes in the phrase “Let the robber barons come,” not for foreign direct investments and thereby create employment opportunities in the island, but to assist in grandiose schemes like holding the Commonwealth Games in Sri Lanka?
See also last week’s lead story in the business pages of this publication.