Oct 31, 2021

Commercial Bank disregards Cabraal's recommendations!

A newspaper advertisement by the Commercial Bank of Ceylon on Oct. 29th has disregarded the recommendations of Central Bank governor - Ajith Nivard Cabraal, says the All-Island Vehicle Leasing and Loan Installment Payers Association.
Speaking to ''Sri Lanka Mirror', the convenor of the collective - Sanjaya Mahawatta says that the advertisement is with regard to an auction.
On Oct. 01, the CBSL governor unveiled a 6-month plan to the economy and this included instructions to suspend taking over of assets through the Parate Execution powers granted to banks.
Noting that the banks seem to ignore this instruction, Mr. Mahawattha sardonically stated that this could be the reason why the CBSL governor had sought cabinet powers.
The relevant advertisement is shown below :
WhatsApp Image 2021 10 31 at 9.47.39 AM