The Committee on Public Finance (CoPF) has raised the alleged fraud at National Development Bank (NDB) with the Central Bank of Sri Lanka, expressing serious concern over possible lapses in corporate governance and regulatory oversight.
The matter was taken up as a priority during a meeting of the Committee held on April 7 under the chairmanship of MP Dr. Harsha de Silva, when Central Bank Governor Dr. Nandalal Weerasinghe and senior officials attended a statutory presentation to Parliament.
During the discussion, the Governor informed the Committee that an initial investigation into the alleged fraud is currently underway and assured that the Central Bank would report back once further information is gathered.
The Committee noted that there appeared to have been significant lapses in corporate governance at the bank, shortcomings in supervision by relevant Central Bank departments, and delays in reporting material information.
The CoPF said such shortcomings were unacceptable and directed that immediate corrective measures be taken.
The Committee also emphasized that it would continue to closely monitor the issue and maintain strict oversight to ensure accountability, transparency, and public confidence in the financial system.
NDB earlier estimated the fraud exposure at approximately Rs. 13.2 billion, stating that the incident was confined to a specific operational area involving certain employees acting in collusion.
The bank also assured that customer balances remain secure and that banking operations continue without disruption. (Newswire)