Director boards of BOC, Peoples Bank, BOI dissolved

The director boards of the Bank of Ceylon, Peoples Bank and Board of Investment (BOI) were dissolved by President Maithripala Sirisena with effect from midnight today, Presidential Media Unit said.

The decision has been taken after considering the acts of misappropriation said to have taken place in the said institutions.

Government sources said a thorough investigation would be conducted into the allegations of misappropriation in these institutions shortly. (Ajantha Kumara Agalakada)