Young Bankers on corruption - LMD

"Corruption has existed in South-East Asia, in varying degrees, for generations. Unfortunately, in Sri Lanka, it seems to have been aggravated in recent times.

Businesses engage in corruption when they want to make excessive profits and improve their bottom lines dramatically," HNB's MD Rajendra Theagarajah said, in LMD's January 2008 edition. The Media Services flagship says in a media release that it is launching a campaign to 'Stop corruption!', with the spotlight firmly tuned on the private sector.

Three young bankers are among the 16 next generation of business leaders interviewed by LMD's Suresh Ginige, for the pioneering journal's January Cover Story.

Theagarajah said that "the only solution is to inculcate sound ethics among businesspeople - starting from the top.

Transparency and ethical conduct must be encouraged to reduce the tendency to practise corruption." He said: "While a sustainable peace is our most over-riding concern, tackling corruption is of vital importance."

Another young banker who heads Seylan, Ajita Pasqual said that "all parties that are involved in corruption and continue to facilitate it are to blame for the present state of affairs".

"It is possible to do business without resorting to corruption. The extent of corruption depends on what sort of business is concerned. In the banking and financial-services sector, there may be some fraud and irregularities - but it has, on the whole, been above board," he said.

Pasqual said, "Leading by example is the best way to tackle corruption. One must not be tempted by corruption even if the returns appear to be lucrative.

We certainly have reputable business leaders, but our political leadership can be much more transparent."

Eran Wickramaratne, Deputy CEO of NDB Bank said that "corruption is a pervasive and debilitating disease which inhibits progress and development. Its most prominent forms are abuse of power and financial corruption.

"The only solution is to inculcate sound ethics among businesspeople - starting from the top..." - Rajendra Theagarajah

"All parties that are involved in corruption and continue to facilitate it are to blame for the present state of affairs..." - Ajita Pasqual

"We, as citizens, must ensure that politicians and bureaucrats are well paid. Then, we would have the moral right to deal severely with those who break the law..." - Eran Wickramaratne