It is learnt that the boards of directors of the two banks had refused to resign without the orders of the subject minister.
However, according to the constitution the President has the authority to appoint or make changes to these positions, reported the Sunday ‘Mawbima’ newspaper, adding that if the board of directors of these two banks fail to adhere to the orders of the President, there is a good chance that these two banks could be taken under the President.
Kiriella asks President for names
Meanwhile, Minister of Public Enterprise and Kandy City Development Lakshman Kiriella said he had requested the President to hand over to him a list of names in order to appoint a new board of directors to the two state banks.
He said the directors of the two banks had not been dismissed so far and that the President had made a request to use his powers and reorganise the two banks board of detectors.
Meanwhile, the President had informed the subject minister Lakshman Kiriella to appoint new boards of directors to the Bank of Ceylon and the People’s Bank as the official terms of the boards of directors have expired.
Sri Lanka Mirror learns that the President intends to appoint the chairmen to the two state banks.