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Monitoring committee to regulate Samurdhi Bank

It has been proposed to appoint a Monitoring Committee comprising representatives of the Central Bank of Sri Lanka, Ministry of Finance and Ministry of National Policies and Economic Affairs to regulate the Samurdhi Banks.

Governor of the Central Bank Dr. Indrajit Coomaraswamy at a media briefing on Friday (11) stated that a discussion was held at a meeting chaired by Prime Minister Ranil Wickremesinghe on regulating the Samurdhi Bank.

The oversight committee is headed by Secretary of National Policies and Economic Affairs Ministry K.D.S. Ruwanchandra and will include Deputy Secretary of Treasury A.R. Deshapriya and Sri Lanka Central Bank Deputy Governor K.D. Ranasinghe.

Dr. Coomaraswamy said the new monitoring committee has been proposed with the aim to strengthen the management of the Samurdhi Bank and broaden the services offered to the public.

However, the Governor said the taking the Samurdhi Bank under the Central Bank need to be studied as to how it should be done.

Responding to media questions, Deputy Governor K.D. Ranasinghe said the Samurdhi Banks established under the Divi Neguma Act are administered by a Management Committee, which includes two representatives of the Central Bank and the Finance Ministry. However. The Management Committee is not sufficient to manage the Samurdhi Banks and it has been proposed to appoint a new committee.

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