The Committee on Public Finance (CoPF) which met under the chairmanship of Member of Parliament Dr. Harsha de Silva has raised the alleged fraud at NDB Bank with the officials of the Central Bank of Sri Lanka (CBSL).

The CBSL Governor Dr. Nandalal Weerasinghe, along with members of the Governing Board, the Monetary Policy Board, and senior officials, attended the meeting on Tuesday (April 07) as part of the Central Bank’s statutory presentation to Parliament conducted once every four months.

Deputy Ministers Chathuranga Abeysinghe, (Dr.) Kaushalya Ariyarathnea and Nishantha Jayaweera, Members of Parliament Rauff Hakeem, Ravi Karunanayake, M.K.M. Aslam, Nimal Palihena, Chithral Fernando, Wijesiri Basnayake, Thilina Samarakoon, Champika Hettiarachchi and Lakmali Hemachandra, were also present at the meeting.

During the meeting, the Committee took up as a matter of priority the alleged fraud at NDB Bank. The Committee initiated a focused discussion with the Central Bank, underscoring the seriousness of the issue and the need for urgent attention, a statement said today.

The Central Bank Governor informed the Committee that an initial investigation in this regard is currently underway. He further assured that the Central Bank will report back to the Committee at the earliest possible opportunity once the necessary information has been gathered.

The Committee observed with serious concern that there appear to have been considerable lapses in corporate governance at the bank, deficiencies in supervision by the relevant departments of the Central Bank of Sri Lanka, and undue delays in the reporting of material information.

The Committee firmly underscored that such shortcomings are unacceptable and directed that immediate corrective measures be undertaken. 

It further emphasized that it will continue to closely monitor this matter and exercise stringent oversight to ensure full accountability, transparency, and the safeguarding of public confidence in the financial system, the statement added.