Changing Caps

Pramuka Savings & Development Bank plans to set up a special internal audit team, after its Chairman Rohan Perera stepped down following a Board Meeting late Tuesday.rn

rnThe board has appointed existing Director Udaya Nanayakkara as Chairman, but it is not clear whether Mr. Perera remains as President and CEO of the bank troubled bank.rn

rnMr. Nanayakkara told Lanka Business Online that he is only the Chairman of Pramuka Savings & Development Bank and not its associates or affiliated companies.rn

rnResponding to a question whether Managing Director A H A Mendis had been elevated to the position of CEO Mr. Nanayakkara said that he was not aware of any other changes.rn

rnPramuka has dominated the headlines lately for allegedly irregular financial transactions after the Central Bank suspended its operations in October.rn

rnMr. Perera told staff in a statement on Wednesday that his immediate departure creates an unfettered environment for a special internal audit team to start work.rn

rnHe said the B