Central Bank (CB) Governor Dr Indrajit Coomaraswamy yesterday emphasized that the CB was still looking for a credible investor with proof of funds to bail out troubled Central Investment and Finance PLC depositors.
The Governor also refuted recent media reports which said that the Central Bank is planning to close down CIFL and its group companies to cover up the irregular and possibly illegal conduct of Central Bank officials regulating these companies.
“We have been looking for a potential investor to resurrect the company since 2014, but unfortunately, we haven’t been able to find a credible investor with poof of funds so far.”
“Our lives will be so much easier if an investor comes clean with proof of money. In this regard, the Bank is still encouraging prospective investors to resolve the matter. We’re happy to have an investor, but we can’t let this drag on for a long period.”
The Governor further added that the Central Bank conduced a forensic audit way back in September 2013 on the issue of CIFL and findings of the audit have been shared with the Auditor General’s department and CID.
Meanwhile, the Central Bank has requested Paypal to consider starting inward remittance services to Sri Lanka.
According to Central Bank Senior Deputy Governor Nandalal Weerasinghe, Sri Lanka invited Paypal to start services in Sri Lanka three years ago. However, Paypal has noted that there weren’t sufficient volumes to commence operations in Sri Lanka during that time.
“Paypal is a private company; it is their business decision whether to enter Sri Lanka or not,” Weerasinghe said.
Dr Coomaraswamy also said that the CB is willing to provide necessary regulatory support for Paypal to start inward remittance services to Sri Lanka and there is no restriction for them to conduct operations even under the existing regulations.
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