Bank of Ceylon (BoC) General Manager D.M.Gunasekera has been suspended with immediate effect.

Finance Minister Ravi Karunanayke said the suspension has been carried out on many grounds including misuse of power and corruptions.

It is learnt that in 2011, Bank of Ceylon opened up a branch in Seychelles-a country considered as one of the fastest growing tax havens in the world-during the time of the previous regime, without the permission of the Bank of Ceylon. (Yohan Perera)