Financial Times

CBSL vs Pramuka

I am a depositor at Pramuka where I deposited my premature retirement terminal benefits received from an international bank in Colombo. Even if Pramuka has flouted Central Bank instructions, state authorities should act positively. It is the bounden duty of the Central Bank of a sovereign state to safeguard the interests of local depositors.

If Janashakthi or any other interested party is willing to revive Pramuka, why not give them a chance?

If the Central Bank winds up Pramuka without allowing others to revive the bank, citizens of this country will lose faith in the financial institutions operating in Sri Lanka and there would a drain of foreign exchange to other neighbouring countries or more secure business locations.

In fact, even now there are quite a lot of withdrawals from local banks that are being transferred to international banks operating in Colombo.

Pramuka depositor

and retired banker

Colombo