The Director of the Non-Banking Financial Institutions Department of the Central Bank, Ms. Chanuri Jayasinghe, has stressed that proposals made by certain companies and institutions inviting the public to invest in the cultivation of various types of trees are entirely illegal.
She emphasized that the public should not invest any money in such plantation schemes under any circumstances, noting that the collection of funds for these purposes is unlawful.
Pointing out that the provisions of the Financial Business Act do not permit the collection of money from the general public in this manner, Ms. Jayasinghe stated that certain institutions are currently soliciting investments from individuals for plantations involving crops and plants such as wallapatta, kilo guava, nai miris, vanilla, kochchi miris, kangkung, and others.
She reiterated that these schemes operate outside the legal framework governing the collection of public funds and warned the public against participating in such investment opportunities.
