Pramuka Bank to be opened before June 1

The Government has decided to open the now defunct Pramuka Bank before June 1 as a state bank. It will be called Sri Lanka Savings bank.

This was decided on at a meeting held between Minister of State Revenue and Finance Ranjith Siyambalapitiya, JHU parliamentarian Ven Athureliye Rathana Thera, Treasury Secretary Dr. P.B. Jayasundera, officials of the Central bank, Pramuka Bank Depositors' Association and the Pramuka Bank Restructuring Committee.

This move by the government will build trust in the financial sector of the country. Pramuka Bank Restricting Committee Chairman K.C. Vignarajah said that the details will be finalised soon.

Pramuka Development and Savings Bank was asked to suspend its operations by the Central Bank in 2002.On December 19 of the same year the Central Bank decided to wind up the business and cancel the licence of the bank.