Sri Lanka's main opposition has called for a probe and the resignation of NSB's chairman.
The full statement of the chamber is reproduced below
The recent purchase of shares of The Finance Company PLC by the National Savings Bank
The Ceylon Chamber of Commerce (CCC) notes with concern the recent transaction of approximately 13% of The Finance Company PLC. The Chamber believes that ensuring integrity and transparency are vital to maintain investor confidence in the Colombo Stock Exchange (CSE) for the capital market to remain robust.Whilst appreciating the timely intervention by the officials in recognizing the possible governance issues in the transaction and for initiating measures to conduct an inquiry, the CCC urges policy makers and regulators to ensure that the outcome of the inquiries results in identifying any violations and that action be taken against any wrongdoers.
The Ceylon Chamber strongly believes that there should be collective efforts to ensure transparency and governance in order to enhance investor confidence in the capital markets.