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BOC GM not suspended?

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The Chairman of Bank of Ceylon, President’s Counsel Ronald C. Perera last week said that the bank’s General Manager, D M Gunasekara has been “placed on leave until investigations are completed” amidst a contrasting claim made by the Finance Minister. Speaking to the media two days ago, Finance Minister Ravi Karunanayake had announced last week that Gunasekera was “suspended with immediate effect” as a result of allegations including misuse of power and corruption.

Noting that recent adverse publicity and negative sentiments expressed in the media recently does not augur well for the Bank or the financial system as a whole considering the systemic importance of Bank of Ceylon to the country, Chairman said they believed that it is incumbent upon the Board to address this situation.
“In furtherance thereof, it has become necessary to determine the exposures to risk of several key functional areas of the Bank as well as to conduct special purpose audits, via the deployment of internal and external auditors.

 As such, we felt it was appropriate to place the General Manager, Mr. D M Gunasekara, on leave, until investigations are completed such that the conduct of investigations is independent and impartial. We will take all steps to complete these investigations and clear the issues, within a short period of time.”

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