Dec 10, 2016

People’s Merchant Finance Chairman in fake certificate scam Featured

Dr. Rahula Dandeniya who was appointed as the new chairman of the Merchant Bank of Sri Lanka had misled the Central Bank officials by producing forged certificates, it is reported.

It has been revealed that the educational qualification certificates as well as details regarding his state and private sector employment details are forged or false documentation, it was revealed in a letter that was sent to the Central Bank who holds the shares of the PMB, adding that it would due to such a person heading the PMB, it poses a threat to the investments of the establishments.

Peoples Merchant Finance is a state owned establishment and appointments to state owned banks and financial institutions is carried out customarily by the Central Bank.

The letter also urges that the stability of the state owned banks and financial institutions is the responsibility of the Central Bank and appointment to these establishments is of vital significance to the financial stability of these institutions and as such having presented false documentation in obtaining his appointment Rahula Dandeniya has violated the regulations of the CB and should be immediately removed from his post.
Several attempts were made to contact Dr. Rahula Dandeniya to obtain a comment regarding these allegations, but all our attempts proved futile.