Financial Times

Sumi quits, silent on speculation
Bank of Ceylon chairperson Sumi Moonesinghe said she has not resigned but was stepping down at the end of her one-year contract. "When the prime minister offered me the post I said I could do it only for one year. My contract ended on November 30 and I wrote to him saying that I'd like to relinquish my duties," she said.

She declined to comment on reports that her departure was linked to attempts by the government to write off a political loan, saying an oath of secrecy prevents her from discussing loans to customers. Moonesinghe has said she does not have banking expertise and that it was better for the bank to be headed by a professional banker.

Tipped to take over as chairman of the Public Utilities Commission, she has been credited with some top corporate deals at the bank and was viewed by trade union leaders as a positive influence in the institution. "We appreciate what she has done for the bank," said Gamini Karunaratne, general secretary of the Ceylon Bank Employees Union.

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