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No glitches at BOC in Seychelles

29 August 2015 04:14 am - 29     - {{hitsCtrl.values.hits}}

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Bank of Ceylon Chairman Ronald Perera said yesterday the Seychelles branch of the BOC was functioning smoothly and there were no any grey areas in its setting up process in January 2014.

He told Daily Mirror the Bank had launched an inquiry on the circumstances that led to the establishment of the branch because of allegations of wrong doings.

”We inquired into allegations that the BOC branch in Seychelles was established in haste and with ulterior motives. The inquiry report has found nothing irregular and we are fully satisfied with the setting up process and the management of the branch,” Mr. Perera said.

He said there was no question of closing or any threat of bankruptcy at the branch.

The then Finance Minister Ravi Karunanayake ordered an inquiry to find out if Sri Lankans had deposited ill-gotten funds at the branch in Seychelles, which is considered a tax haven.

Questions were asked why the BOC opened a branch at Seychelles when only 46 Sri Lankans were living there. There were allegations that this branch was opened for the purpose of money laundering.

Mr. Karunanayake also said the investigation would help reveal whether the opening of the branch was authorised by the Finance Minister or Central Bank Governor during the Rajapaksa regime.

The branch opened on January 20, 2014 was the first ever Bank of Ceylon branch in an African country. Seychelles Vice President Danny Faure was the chief guest at the opening ceremony.(Sandun A Jayasekera)

 
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  Comments - 29

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  • In depth inquirer Saturday, 29 August 2015 02:17 PM

    Mr Chairman, Please go through the initial memorandum to the Board - by whom it was mooted, what purpose to be served, justification of total revenue from exercise etc. - were these intentions justified or why this country from 140 others in the world. Do not fool us please. Simple answers to Simple Simon will not do.

    C.K.Lankaputhra Saturday, 29 August 2015 02:24 PM

    Looks a man of Mahinda, for Mahinda and by Mahinda.

    49 Syechelles Saturday, 29 August 2015 02:27 PM

    In My Resort in Seychelles there are about 10 Sri Lankan....Working so also few Sri Lankan Play Cricket for Seychelles...How did the 49 no come from..

    Nihal Amarasekera Monday, 31 August 2015 11:43 AM

    It is patently clear that everything is not clear.

    Sarojini Saturday, 29 August 2015 04:08 PM

    This was primarily opened for health tourism with. S L as a revenuevearneThis was primarily opened for health tourism as a revenue earner for. S L

    Sarojini Saturday, 29 August 2015 04:09 PM

    This was primarily for health tourism which would have benefitted. SL

    ralahamy Saturday, 29 August 2015 04:16 PM

    What a bank administration!!!! You open a branch for 46 Sri Lankan citizens!!! This shows how much you care for the welfare of Sri Lankans in all parts of the world. Can the Manager come clean with the remittances in/out during this period, and how it cost the bank to maintain a branch for 46 clients? (assuming all Sri Lanka residence are clients.)

    Jayasigha Saturday, 29 August 2015 04:42 PM

    One more allegation bites the dust..

    Sapu Saturday, 29 August 2015 05:36 PM

    False allegations eh? tell me a single allegation that was proved wrong?

    Aquarius Saturday, 29 August 2015 05:53 PM

    BoC has 3 overseas branches - Maldives, Chennai and Seychelles. How many Sri Lankans live and work in these countries. Foreign remittances from mddle eastern countries is massive and thousands of Sri Lanans live in these countries. Is it not obvious to any economist where BoC branches should be opened and provide a service to those poor emplyees who are duped left right and centre when they have to remit their earnings to Sri Lanka? The BoC Chairman is living in the clouds to justify a BoC branch in Seychelles.

    Jagath Leanage Saturday, 29 August 2015 10:03 AM

    We know what is going to happen now. All are deals and we are fools.

    Jean_marie Saturday, 29 August 2015 10:10 AM

    Only 49 Sri Lankan ..... That is a Lie..................?????

    Obvious Saturday, 29 August 2015 06:51 PM

    No there is more here. A branch anywhere other than Seychelles is ok - but why Seychelles. Chairman please tell us more.

    Dr M.L.Najimudeen Saturday, 29 August 2015 10:43 AM

    The population of Seychelles is 91,000. The total No. of Sri Lankans living there is less than 100. What is the necessity to open up a Bank of Ceylon Branch in this country? What is the desire to open up an embassy in Seychelles?Dr M.L.Najimudeen, Malaysia

    Dr M.L.Najimudeen Saturday, 29 August 2015 10:43 AM

    The population of Seychelles is 91,000. The total No. of Sri Lankans living there is less than 100. What is the necessity to open up a Bank of Ceylon Branch in this country? What is the desire to open up an embassy in Seychelles?Dr M.L.Najimudeen, Malaysia

    Bokku Kata Saturday, 29 August 2015 07:15 PM

    One more allegation bites the dust.

    patriot Saturday, 29 August 2015 11:02 AM

    Now we know what to do for the next General election.

    Ruwan Saturday, 29 August 2015 11:05 AM

    All are dealing we are fools. You are very correct

    Bala Saturday, 29 August 2015 08:54 PM

    Ah. You forgot BOC London where rackes are galore - loans given to Ronnie Pieris. Then repairs were done at high cost - no inquiries.

    Wele Vidane Saturday, 29 August 2015 11:50 AM

    So you wait till the end of election.

    Sampath Saturday, 29 August 2015 11:57 AM

    Mr. Chairman of BoC, can you please tell us why this branch in Seychells was opened. Was it opened to deal in black money? We need your answers. How many billions was channelled through this bank since its inceptions? The former CBB governor was sleeping and was also instrumental in many frauds. His membership status in ICASL revoked by the Council. He is a national fraudster. Please request President MS to hire consultants from Europe and other reputed places to investigate the MULTI - BILLION frauds that took place in SL during the past 10 years. We Srilankans need answers not excuses. If the FC ID personnel are incapable of collecting the evidence, please hire expert consultants from outside SL.

    Observer Saturday, 29 August 2015 09:46 PM

    Elections are over...alegations are over......grillings are over. .....no glitches.....no more criminals. Jayawewa to all!!

    Mason Saturday, 29 August 2015 12:33 PM

    Looks as if preparations are under way to sweep any findings under the carpet.A Branch in a foreign country which had only 46 Sri Lankans is by itself suspicious. The present PM has said that there will be transparency. We expect complete details of the circumstances to open thsi branch and all its activities, since then to now.

    saman Saturday, 29 August 2015 12:36 PM

    Were you appointed chairman by MR? Let the FCID investigate and obtain a list of who made remittance in and out of the branch and come out with the truth.

    S Perera Saturday, 29 August 2015 11:02 PM

    It is not true that there are only 46 srilankans there via DM iOS App

    Jambo Sunday, 30 August 2015 12:09 AM

    Very ture. We are all fools

    Sincere Saturday, 29 August 2015 12:51 PM

    In short the Bank was opened not merely for 46 Sri Lankans. Is that the truth?

    nimal Saturday, 29 August 2015 01:52 PM

    all the false allegations are proven to be wrong each day passed by...Yahapalanaya... lies, lies and more lies!.......

    Bala Saturday, 29 August 2015 02:10 PM

    Why Seychelles out of all countries. We have hundreds of thousands of Sri Lankans in the Gulf Countries - so should not that area BOC branch, have been BOC priority. Sure something very fishy from all sides.


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