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| Sunday, 1 January 2006 |
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Pramuka Bank awaits green light The now defunct Pramuka Bank will be opened as a state bank as soon as the government and the Central bank work out the details. A total of 15,000 direct depositors and indirect depositors exceeding 120,000 were left in the lurch when the Central Bank suspended the business of Pramuka Savings and Development Bank (PSDB) on October 25, 2002. The new government under President Mahinda Rajapakse directed State Bank Minister Wijedasa Rajapakse to look into the matter. Minister Rajapakse told Parliament recently that the bank which was to be liquidated would be reopened after acquiring the assets and liabilities to the Central Bank. Chairman of the Pramuka Bank Restructuring Committee K. C. Vignarajah said that prior to the elections they held meetings with both parties to get some relief for the depositors. Therefore, we are very happy with the decision and we will cooperate with the government. We are hoping that the depositors will be fully compensated. When asked about the management structure of the bank, he said, that it would be much better if depositor interest is given greater weightage. |
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