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While serving as a director of People’s Bank, Jehan Amaratunge also serves as the Chairman of “People’s Insurance Limited”. While serving as a director of People’s Bank, Jehan Amaratunge also serves as the Chairman of “People’s Insurance Limited”.
Jul 28, 2018

State Bank Director receives 10 billion from same bank!

A Director of a State Bank who also holds posts at several affiliated financial institutions, had obtained a loan from the State bank for his private institutions to the tune of Rs. 10 billion, the ‘Deshaya’ newspaper reported.

This loan is said to be the largest loan ever granted since the inception of this state bank over the past 65 years.

This loan facility has been approved on several stages with the approval of the state bank’s director board and loans committee.

When the Chairman of the State Bank was contacted and questioned about this matter, he had accepted that it was true that the Director had approved such a large loan to a group of private companies.

However, he also noted that this transaction had been done in a proper manner.

The state bank chairman was asked if there was no issue over the connections between the director and the group of companies that had been granted this loan, as this is the largest loan ever granted by a commercial bank in history.

A minister’s company:

This loan running into billions has been obtained by billionaire businessman Jehan Amaratunge who serves as a Director of the People’s Bank Board of Directors.

The Large Scale Loan Board Chairman Dr. Aminda Methsila had notified the bank’s Chairman and Board of Directors through a report to furnish details on what interest rate the loan was granted and several other factors pertaining to the loan concessions etc.

Jehan Amaratunge is also the Chief Owner of the C.M.L. Company that has obtained several road construction contracts throughout the country, including a section of the Central Expressway. Meanwhile, it is also revealed that the said company’s co-owner is a powerful government minister.

 

 

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