President tells CBSL to pay ETF, The Finance depositors: ‘Seize all assets if you have to’
President Gotabaya Rajapaksa yesterday (29), instructed Central Bank officials to obtain legal advice on the Edirisinghe Trust Investments (ETI) Finance Company and The Finance Company to mete out justice to depositors.
The President said a committee representing the Presidential Secretariat, the Central Bank of Sri Lanka, the Treasury and the depositors should be set up to monitor the proceedings, noted the President’s Media Division release issued in this regard. The President said this at a discussion held at the Presidential Secretariat yesterday to find out how ETI and The Finance depositors are being paid.
Discussions were held regarding the measures taken by the Central Bank regarding these companies.
Under the first stage, payments will be made to the depositors who have deposited less than Rs 600,000 and the President emphasised that justice should be done to other customers too, even by way of seizing all the assets owned by the two institutions.
CBSL Governor, Professor W.D. Lakshman assured that action will be taken to investigate the allegations and grievances of the people at the next Monetary Board meeting and to provide solutions to them.
He added that steps will be taken to rectify the shortcomings of the CBSL and to address the issues that directly affect the people and to ensure the dignity and responsibility of the institution.
The President added that the assets owned by the ETI and The Finance Company will be identified and will be taken over without filling cases and that the people will be paid off with that money.
The President said action would also be taken against those who defaulted on loans to financial institutions.