Opposition MP Ravi Karunanayake has alleged that failures within the Central Bank of Sri Lanka Banking Supervision Unit contributed to the Rs. 13 billion fraud reported at National Development Bank Sri Lanka.
Speaking in Parliament, the former Finance Minister said the issue has now grown more complex, warning that the impact may extend beyond a single institution.
“Several other banks and non-bank financial institutions have been affected by the NDB fraud. What is important is to protect the financial systems of these institutions,” he said.
Karunanayake stressed that safeguarding the broader financial system is crucial, adding that focusing solely on the interests of depositors is not sufficient in addressing the issue.
His remarks come amid increasing scrutiny over regulatory oversight and the stability of Sri Lanka’s financial sector following the reported fraud.
