Press briefing of Cabinet Decision taken on 2020-07-22

Regularizing and make efficient the State Bank system to Strengthen the National Economy

- State banking system and their affiliated institutions have to operate regularly and effectively in order to overcome the challenges encountered by the Sri Lankan economy amidst COVID-19 pandemic. However, it appears that actions have been taken deviating from the fundamental objectives of establishing said state banks and violating the provisions and procedures stipulated in relevant Acts during the past. The Cabinet granted approval to the proposal submitted by the Hon. Prime Minister for the appointment of a Committee chaired by the former High Court Judge Sisira Ratnayake and comprised of experts in the relevant fields to identify such incidents and to recommend the legal and administrative measures in order to avoid such situations in future.