Mar 06, 2021

PM orders to remove Chairman of People's Bank Featured

Prime Minister Mahinda Rajapaksa has ordered the Secretary to the President and Treasury Secretary to take steps to immediately remove Chairman of the People's Bank Sujeewa Rajapaksa who is facing severe financial allegations.

It has been alleged that Sujeewa Rajapaksa has released a loan of Rs 25 million to BDO Partners - an audit firm belonging to himself, under the loan scheme launched by the government to provide relief to those affected by COVID-19.

Under this scheme, loans were given at a concessionary rate of 4 per cent.

It is understood that Sujeewa Rajapaksa is facing charges that he has violated the instructions and guidelines given by the Central Bank when he issued the loan to his own company.

It is mandatory that a security should be deposited with the bank when a loan is issued to a board member or their relatives. But in this instance, it has not happened.

After receiving several complaints about this irregularity, Prime Minister Mahinda Rajapaksa has directed to launch an investigation and also to remove Sujeewa Rajapaksa from his post until the investigations are completed.

Opposition MP Mayantha Dissanayake too has lodged a complaint with the Governor of the Central Bank on his matter.