Sri Lanka's Postmaster General appointed acting NSB chairman
Sri Lanka’s Postmaster General (PMG) Rohana Abeyratna has been appointed as acting chairman of the National Savings Bank (NSB), the government said on Thursday.
Treasury Secretary Dr P.B. Jayasundera, who told reporters that the appointment was in an acting capacity, said the government had learnt many bitter lessons from the recent crisis at the NSB.
NSB Chairman Pradeepa Kariyawasam and the entire board of directors resigned over a flawed stock market deal in which the bank purchased a 13% stake in The Finance Co at a highly, unrealistic price.
Dr Jayasundera said instructions will be soon be given to state banks and other state revenue organizations to set up investment and credit committees run by officials tasked with making investments decisions, which would not be an entire director-board responsibility. “The resignations of the directors at the NSB helped in our own probe in the issue,” he said. – (Bandula)