Ravi Karunanayake has accused the Central Bank of Sri Lanka of failing to act decisively over alleged suspicious financial transactions linked to National Development Bank and two other commercial banks.
Speaking in the Parliament of Sri Lanka, the former United National Party Deputy Leader stated that Parliament’s responsibility is not to protect the Central Bank, but to protect:
- The public
- The country’s banking system
- Financial stability
Karunanayake criticized the Central Bank’s handling of investigations into the alleged financial fraud reported at NDB Bank and questioned whether the broader impact on Sri Lanka’s financial sector had been properly assessed.
According to the MP:
- Similar suspicious transactions have reportedly occurred at two other commercial banks
- Authorities have failed to take sufficient action regarding those incidents
He questioned in Parliament:
- Whether the full systemic risk to the banking sector has been evaluated
- Why stronger regulatory or enforcement measures have not yet been implemented
The MP further alleged that the Central Bank, despite having independent regulatory powers, has not acted adequately in addressing these concerns.
The remarks come amid increasing public and political scrutiny surrounding:
- Banking sector governance
- Financial oversight
- Regulatory accountability
- Cybersecurity and fraud risks within financial institutions in Sri Lanka
Karunanayake has previously called for:
- An independent international forensic investigation into the alleged NDB Bank fraud
- Greater transparency regarding regulatory failures
- Stronger supervision mechanisms under the Central Bank framework.
