47 people obtained Rs. 68 million loan from SMIB in 2017 through fake documents – observes COPE – Adaderana Biz

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COPE observed that in 2017, 47 people were involved in preparing false documents and submitting false information and secured Rs. 68 million loans worth from the State Mortgage & Investment Bank.

Officials present said lawsuits have been filed against those identified as debtors and that the CID is still investigating the matter. Disciplinary investigations against staff, particularly in this matter, are ongoing and disciplinary action against those whose investigations have been completed has already been taken, the officials added.

The officials also said that two external parties linked to the said case were arrested by the CID and one of them died. It was also reported that swift action has been taken to secure these loans, especially after the appointment of the new chairman and board.

Accordingly, the President of COPE instructed the officials present to carry out the measures well.

The above was discussed during the meeting of the Commission held yesterday (23) on Public Enterprises (COPE) chaired by Hon. Professor Charitha Herath will review the Auditor General’s reports and the current performance of the National Mortgage and Investment Bank for the financial years 2017 and 2018.

Emphasis was placed on the increase in housing loans during these years, while the members of the committee present were of the opinion that the amount of loans given to industries and agriculture should be increased. They also pointed out that this should be considered a need of the State Mortgage & Investment Bank in particular. Officials present at the committee meeting said that loans are already being given to small businesses with emphasis on what is indicated.

Current vacancies at the bank were also discussed. Officials said steps had already been taken to fill several vacancies in the leadership ranks and some suitable candidates were not applying for vacancies in the leadership ranks and some were leaving shortly after being appointed. . If the compensation for these positions is not sufficient, the President of COPE instructs to make the necessary changes in order to fill the vacant positions.

There was also a discussion about the presence of the State Mortgage & Investment Bank in a building that has been rented for about 30 years.

Automated banking system implementation activities were also discussed.

Hon. (Dr) Sarath Weerasekera, Minister, Hon. Indika Anuruddha, Minister of State and Members of Parliament, Hon. (Dr.) Susil Premajayantha, Hon. Eran Wickramaratne, Hon. (Dr.) Harsha de Silva and Hon. Madhura Withanage were present at this Committee meeting which was held.

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