The Business Times last week highlighted the serious conflicts of interest of both Dharma Dheerasinghe and Prithi Jayawardena (both close associates of the Central Bank Governor). As a depositor of the bank I am so disappointed that these very two gentlemen have been appointed as Chairman and Deputy Chairman. Sri Lanka is fast becoming a banana republic where people don’t care for the views of the public or media anymore.
Mr. Dheerasinghe’s conflicts and dealings have been highlighted many times in the media while Mr. Jayawardena played a key role in the disgraced The Finance- NSB deal. They may be capable people, but they are riddled with controversy. What is wrong with the Board? The retired Chairman of the Bank Dinesh Weerakkody is known to be a strong advocate of good governance. Why did he allow these two ‘tainted’ people to be appointed? There is Prof. Uditha Liyanage, former Director PIM, is another top professional. What were these professionals doing? We know what is going on in HNB, every year the profit keeps going down and down; they are now taking over two finance companies that no other right thinking investor would dare to even get near.
Sri Lankan banks are systematically getting raped by the system. It would be a pity if the Commercial Bank suffers the same fate of HNB. At least thanks to the media like the Business Times we are being kept in the know. What are banking professionals like Eran Wickremaratne, one time CEO of the NDB Bank and now an opposition MP doing about this? Is he among the converted or given up?
TFC saga and Jayawardena
I read your article on the new board at Commercial Bank with sadness. Mr. Dharma Dheerasinghe is also the Chairman of Bartleets Finance Co Ltd. Is there no conflict there? Mr. Prithi Jayawardena is no different. His role in the The Finance Co (TFC) justifying the corrupt NSB deal was unbecoming of a professional. The Central Bank is trying its best to palm off TFC on a bank. Hope it is not on poor Commercial Bank now that Dheerasinghe and Jayawardena are running the show.