Sri Lanka’s Central Bank has formulated most of its monetary policies with the well-being of banks and finance companies in mind rather than that of their customers, Minister of Industries Wimal Weerawansa said.

The Central Bank’s role is to protect the customers and not to swoop in and assume control of the institutions when they fall, Weerawansa said at an event in Colombo yesterday.

When a finance company “runs away” with its depositors’ money, said the minister, the Central Bank steps in to shoulder the burden, leaving the depositors out in the cold with no justice in sight.

https://economynext.com/cabinet-minister-accuses-sri-lanka-central-bank-of-not-prioritising-customer-well-being-74035/