BOC Chairman and CEO must be held responsible 

Wednesday, 11 March 2015

The banking sector was in a state shock with the recent massive bond scandal. Now a committee has been appointed to investigate the deal. The people appointed obviously do not know how and why a bond is issued. These are technical issues that required qualified people. Not laymen.

This sends a bad message that the investigations from the word go is flawed. Thankfully the JVP, JHU and NFF are demanding for action, if not the UNP would have put this issue under the carpet and shared the loot. Mr. Ronald Perera Chairman and Mr. Gunesekara GM Bank of Ceylon must tell the public on what basis BOC arranged a credit line for Perpetual Treasuries three times the Asset value of the firm ammounting to Rs 10 Billion and the names of the owners and directors of Perpetual Ltd.

BOC has a poor track record of doling out money at will on political orders, while the ordinary man is harassed for days to even get Rs 50,000 on security to renovate a house.

The JVP should study this and file a complaint against these two officials at the Bribery Commission immediately. Meanwhile the new bond King Governor Mr. Mahendran should step aside and allow a proper investigation, that is the only way he can save his name and get back the legitimacy to function as the governor and prevent future prosecution, if the government changes after 100 days.

Good Governance Activist