Bankers to the nation –killing the industry?
Posted on January 15th, 2019

Dr Sarath Obeysekera

Bank of Ceylon has always been the icon of stability for the banking industry in Sri Lanka. Having been the first state commercial bank in the country, BOC has fulfilled its role continuously evolving to cater to the changing needs of customers.

Few of us who have worked in Ship Building Industry wanted to do something for the country after retirement .We developed a shipyard which creates   not only employment to the youth but also generates much needed foreign income .

Our company uses skilled labour of another subsidiary of the owning company .This month subsidiary deposited the salaries of the workers in the bank of Ceylon account .With the difficult conditions in the country ,where many companies are finding difficult to service their loans and pay their workers , .we managed to generate income to remunerate the workers .

Moneys were deposited with the list of account holders who are the  workers are expecting the bank to transfer to each work as per list given to the bank.

The company has some loans to pay to the bank which we need to service in stages .Bank of Ceylon confiscated the money deposited in the account claiming that another blue ship company has filed action in the Courts to claim some overdue amounts .Trick used by the lawyers was to file action to impose a ruling by the courts to liquidate the company and get  the dues .

Advertisement was placed in the national papers by blue chip Company informing the public about their claim requesting any other claimant to come forward. It was not published by the courts but by a private entity.

Bank of Ceylon immediately stopped payment of salaries of the workers and informed the company that account will be frozen unless the loans are paid.

Workers are getting agitated due to none payment of salaries

Labour Department was contacted, which confirmed that Bank may take some other action like filing court action to claim the overdraft but they have no right to stop salaries of the workers.

Advertisement placed by the blue chip company was meant to pressurise the company to pay the dues but not to shut the company down.

Bank of Ceylon being the Bankers of the Nation should help  the wellbeing of the people of this country and help the industries rather than initiating such in inhuman actions.

 

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