Yesterday, ruling party members vehemently opposed provisions within the Banking (Amendment) Bill, presented to Parliament by the President as Finance Minister, granting authority to appoint board members. Prime Minister Dinesh Gunawardena led the discussion during a parliamentary meeting, attended by Central Bank Governor Nandalal Weerasinghe and other officials.
The bill outlines the delegation of powers, allowing the Central Bank Governor to appoint key officials for banking functions. Despite the provision for committees of officers, the Prime Minister and ruling party MPs strongly objected, asserting Parliament’s authority over financial matters.
Concerns were raised about appointing individuals with past financial irregularities to bank director positions. Parliamentarian Madhura Withanage stressed the importance of State Intelligence Service reports on appointees’ suitability. Despite objections, the bill is set for parliamentary debate today, with President Ranil Wickremesinghe notably absent from yesterday’s ruling party meeting.
