Multi Finance directors serving at Entrust Securities sacked

The Central Bank (CB) has removed the five common directors of Entrust Securities PLC and Multi Finance PLC early this week on the 'fit and proper' criteria that CB can exercise, a CB official said. 

 

Multi Finance and Entrust Securities are part of the Entrust Group. Entrust Securities was taken over by the Central Bank (CB) early this month.

 

The CB has appointed Hareendra Dissa Bandara (former Director General, Securities and Exchange Commission) and private sector professional, Sanjeewa Fernando which will be ratified at a board meeting on Tuesday, the CB official said. He added that the other three vacant positions are to be filled by the newly appointed board in consultation with the CB.

 

 This has come after two Multi Finance's independent directors (Kuvera de Zoysa and Mohan Ratnayake) along with its CEO Pushpika Jayasundera, met the CB mid this month and recommended that common directors of these two firms should be removed.

 

 

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