Several bank heads resign, some likely to challenge Finance Ministry order
Posted on March 28th, 2015

Courtesy Adaderana

Following the resignations of Dr. Rani Jayamaha as Chairperson of Hatton National Bank and Sunil Wijesinha as National Development Bank PLC Chairman and the likelihood of more such resignations, very reliable sources indicated that the Finance Ministry has notified several private commercial bank heads who had been appointed to represent government owned shares to step down.

The government owns nearly 28 per cent of shares in the Hatton National Bank and 33 per cent in the National Development Bank.

10 Responses to “Several bank heads resign, some likely to challenge Finance Ministry order”

  1. Fran Diaz Says:

    Why are these Representatives being asked to step down ?
    If not for incompetance, it must be another ‘revenge’ & replace motion ?

    I have never witnessed such govt ‘terrorism’ in the commercial sector in Lanka. First the Central Bank and now this. Present illegal govt of Lanka bent on punishing Lanka for what reason if not for Separatism and pleasing some foreign powers ? Chief players of present govt seem to have an axe to grind with the very country they represent !

    Failed Democracy through cheated elections.

  2. nilwala Says:

    THESE OFFICERS ARE GOOD PEOPLE WHO HAVE MANAGED THE BANKS WELL
    This is A HIGHLY DANGEROUS TREND….WE ARE HEADING FOR FINANCIAL DISASTER.
    WHAT IS BEING ACCOMPLISHED IS A COMPLETE POLITICIZATION OF THE ENTIRE FINANCIAL SYSTEM TO SUIT THE CONSPIRATORS.

    THIS IS THE TAKEOVER BY RANIL-LED UNP, STEP BY STEP, AND THE SLFP WILL BE DROWNED OUT BY HIS MARCH INTO THE DICTATORSHIP OF A SORT THAT THIS COUNTRY HAS NEVER WITNESSED BEFORE. EVEN THE CURRENT UNP WILL BE DROPPED AND REPLACED WITH SOMETHING ELSE….DEMOCRACY WILL BE NO MORE.

    ARE THESE SLFP PARLIAMENTARIANS SUCH GREEDY IDIOTS THAT THEY ARE LETTING THIS HAPPEN, TAKEN IN BY My3’S PROMISES AND ASSURANCES TO MANAGE THE SITUATION?? IT IS POLITICAL MASS SUICIDE.
    My3 is being OUTWITTED AS WE WATCH ! WAKE UP PARLIAMENTARIANS….TAKE BACK YOUR POWER AND DO THE NEEDFUL!!

  3. Fran Diaz Says:

    I agree with Nilwala. The country is indeed heading toward a bad situation. A Fascist type govt in the making ? Looking at the actions of the new illegal govt., it appears to add up to such a situation …

    ———-

    Repeat earlier entry :

    All the ideas on what MR should do in the future for Lanka are well and good. But, do people consider the fact that there is still a War Crimes charge from the UNHRC against Mahinda Rajapakse, his govt and the armed forces of Lanka ? That has to be removed first if he is come forward. What are the educated folk and other concerned people doing about that ?

    The present new illegal govt does not make matters easy for MR & his family and past govt either, as this new govt brings in false charges against them all on a daily basis.

    I am beginning to think that the new illegal govt is bringing the country’s ECONOMY & FINANCIAL sectors DOWN for reasons best known to them. Possible end game is too horrific to write down ….

  4. Fran Diaz Says:

    We are heartened and hopeful that financial sanity will prevail, that some of the govt Representatives in the banks will challenge the ill thought of directives from the Min of Finance (which is under Exec PM, Ranil W).

    If those in charge of the finance & monetary policies of tiny Lanka think that copying huge countries in their crazy money policies which have now crashed, will suit Lanka, they must be lunatics.

  5. Cerberus Says:

    I agree with Nilwala that we are heading for a dictatorship under RW. He brought the Central Bank under his control removing it from the Finance ministry. Now he is removing the able people who were looking after the Sri Lanka Govt interests in the Banks. Now there will be no oversight. As a result there will be deregulation of the Banks.

    Elsewhere in USA, in 1980’s Ronal Reagen decided to deregulate the banks, and corporations. The result was that the banks lent money to investors for questionable investments. This resulted in many economic crashes culminating in the major crash in the banks which happened in 2008 which was a result of Banks using depositors monies to gamble by using derivatives. Net result was that millions of people lost their life savings. Many committed suicide. It is a kind of ponzi scheme which Golden key did, multiplied a thousand fold. If you are interested read “Crash of 2016” by Thom Hartmann for details of the take over of the US economy by the very wealthy. The result was the removal of the middle class in USA that this enriched the Corporations and the very rich only with slave like existence for the rest. Now the very rich have control of media also, and also the political parties through contributions to elections by the very rich. The people have lost all say in Govt.

    Is that what Sri Lanka is moving to? I wonder who is orchestrating all these moves. I am sure it is not RW or CBK. It has be some of the foreign think tanks. The modus operandi is to find natural fault lines in a society and break up the country along those lines. If you are interested read “Breaking India” by Rajiv Malhotra. In Sri Lanka they want to create a separate state for the Tamils with the cooperation of my3 Govt and then it will be a compliant society to foreign powers to provide labor and harbors.

  6. Lorenzo Says:

    Run-nil is trying to PRIVATISE these banks.

    JVP should get their staff to STRIKE. Few crippling strikes near the election will BUST the UNP.

  7. Fran Diaz Says:

    NDB is a govt bank. Hattoon National Bank is already privately owned. So RW’s objective is to politisize these institutions, just like the Central Bank (back fired already). It is what happens after politisization that bother us.

  8. Nimal Says:

    I am glad they have resigned and that bank should be investigated. They ignored all the warnings and legal stops like a CARVIATE(hope my spelling is right) against a criminal minded high police officer who annexed vast extent of my valuable land at the top, where I spent millions putting up a road access to the to(very high) part of the land. This scoundrel threatened my brothers(late now) with T56 during the most darkest hour of our country in 1989 and threatened me too.Bought with the money given by this bank, where he ran a brothel.I had to report this on personal terms to the Kandy SP Mr Nimal Madiwakke,where he raided this hotel/brothel several times and found that this thieving SP had beds stolen from the Police’s Bambalapitya deprt.this was in the papers.
    Our leaders then,Premadasa created the lawless situation by sending his goons and govt officers to occupy the bottom side of the land for some government publicity project(gammudawa), that created an open season for people to occupy other people’s lands. I too spent millions at the bottom as well, using bulldozers etc.
    Going back to the land at the top,this crooked cop annexed more land land took over my road access and blocked me completely and I took him to courts from 1989 and as usual the courts postponed the case endlessly and the cop went bankrupt and the HNB put his land for sale in the ‘open market’ where I was willing to buy it for the asking price as I have lost a colossal amount with the lost road and stolen land and lengthy court case.
    In spite of my good offer,pending court case over the land dispute and in spite of informing the HNB,especially pleading with the then Chairman Reanzi Wijetillake not to sell my illegally annexed land with a pending court case sold to another person who annexed more land resulting an another case where I desperately settled to take some useless land elsewhere. This bank deliberately sold my stolen land as well.
    I hope this new government will investigate this case and get former retired DIG Mr Nimal Madiweke as a witness and I too will co operate. Banks seems to aid wrong doers and they should be punished.

  9. Fran Diaz Says:

    Nimal,

    According to English Law, it is an offense to sell stolen property, however many hands the goods have gone through. I am sure this holds true in Lanka as well. In a case like yours, the Bank (which is privately held) will most probably be held responsible too.
    Good luck to you.

  10. Fran Diaz Says:

    Nimal : Yours was a case of sale of land under Duress. That is illegal.
    The 13-A was thrust on Lanka under Duress too. That too is illegal.

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