State bank makes revelation on Saudi funds received by Batticaloa Campus
Posted on June 29th, 2019

Courtesy Adaderana

State bank makes revelation on Saudi funds received by Batticaloa Campus
The Chairman of Bank of Ceylon (BOC) Senarath Bandara says that the Batticaloa Campus Private Limited has never mentioned to the bank that the Rs 3.5 billion deposited to their BOC savings accounts was received as a foreign loan from a Saudi Arabian company to establish the campus.

He stated this yesterday (28) testifying before the Special Parliamentary Select Committee looking into the terror attacks on Easter Sunday.

The BOC general manager told the committee that the Batticaloa Campus Private Limited has three savings accounts in their bank.

Rs 3.5 billion of foreign money, amounting to USD 25 million approximately, has been credited to these accounts, and no repayment of the said amount has been noted thus far.

Subsequently, MP Prof. Ashu Marasinghe said that the request made by the Hira Foundation from the Ministry of Defence in 2012, to register the foundation as a non-governmental organization in Sri Lanka, had received a ‘negative report’ from the intelligence chief.

When asked if the BOC was aware of the matter, Mr Bandara said the bank learned of this following the attacks.

He added that the Hira Foundation too received foreign currency accumulating to Rs 313 million.

Meanwhile, the Director General of the Board of Investment (BOI) also testified before the committee regarding the Batticaloa Campus receiving the BOI approval.

One Response to “State bank makes revelation on Saudi funds received by Batticaloa Campus”

  1. Nimal Says:

    Stupid Saudis is fooled by arms dealers to buy weapons that boost their economies and some of these arms were sent to countries like SL,that was seized by our forces a couple of decades ago.They landed in the East coast. Stupid Saudis just can’t get it that soon their oil will run out leaving with no income, thus pushing their country back to dark ages.Clever Iranians will then dominate the Muslim world.EU nations can see this in future for keeping their lines of trade and communication intact with Iran. Some of these EU nations will defy US so days of Gulf nations and Saudis are numbered with their diminishing oil revenues it may take a couple of decades.
    We should ban any links with these countries and depend on our own recourses without putting the country into debit with excessive borrowing.
    So we must confiscate any money sent to the island as their intentions may damage the national security of the island.

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