A private bank, which does not have operational independence would always risk having its policy influenced by other institutions or persons with objectives other than the welfare of the institution, which would obviously weaken the bank’s ability to operate profitably,
Therefore, it is a pity that when the media like the Business Times highlights gross violations of basic decent business practices, the people in power are so callous and continue to disregard the basic decencies and appoint people with a tainted past as chairman of such great institutions like the Commercial Bank. The push to buy finance companies that have been exploited by directors at high prices is against basic business practices. Instead of charging those directors for ruining their companies they are given a golden handshake and their companies are getting bought by private banks. What a state of affairs?