News
NDB fraud: Ravi asks govt. to appoint independent forensic auditor
NDF MP Ravi Karunanayake on Tuesday (05) raised in Parliament what he described as a matter of “grave national importance”, alleging a financial fraud amounting to approximately Rs. 13.2 billion at the NDB Bank, spanning the financial years 2024, 2025 and the first quarter of 2026.
Raising the issue under Standing Order 27(2), Karunanayake called for an urgent response from the Finance Minister, warning that the incident posed serious concerns over regulatory oversight, financial system integrity and statutory accountability under the Central Bank of Sri Lanka Act No. 16 of 2023.
He questioned how the Central Bank of Sri Lanka had failed to detect or act upon, what he termed, a large-scale fraud over a period exceeding three years, despite its supervisory mandate.
Karunanayake further claimed that at least two banks had reported suspicious transactions to the Financial Intelligence Unit, as far back as 16 months, prior to the public disclosure, and queried why such alerts had allegedly gone unacknowledged or unaddressed under Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) obligations.
He also sought clarification on whether investigations had uncovered involvement of other banks or non-bank financial institutions, and the extent of exposure across the wider financial system.
Referring to reports of more than 2,700 CEFT transactions, the MP questioned the failure of the national payment infrastructure, including LankaPay, to trigger alerts, raising concerns over the enforcement of real-time monitoring and reconciliation mechanisms.
Karunanayake called for disclosure of the total value of dividends withheld during the period in question and the impact on institutional shareholders, including the Employees’ Provident Fund, Employees’ Trust Fund and Sri Lanka Insurance Corporation.
He requested an estimate of total fiscal losses to the Government, including direct and indirect tax losses and issues relating to recoverability.
The MP also queried whether any funds had been transferred overseas or via cryptocurrency channels, and if so, how such transactions had been effected without exchange control approval, and what recovery actions were underway.
In addition, Karunanayake sought details on the decline in share price and market capitalisation of the bank following disclosure of the alleged fraud, and the corresponding loss in market value.
He also raised concerns over the appointment of a forensic auditor by the Central Bank, warning of a potential conflict of interest, and called on the government to consider appointing an independent auditor under the authority of the President in his capacity as Minister of Finance.
The government asked for two week time to respond to the MP’s questions.
By Saman Indrajith
News
New Chairperson and Members appointed to the Finance Commission
President Anura Kumara Dissanayake has appointed Ms N. R. Anees as the new Chairperson and a member of the Finance Commission.
J. M. C. J. Wijetunga and K. Karunaharan have been appointed as the other members of the Commission.
The letters of appointment were presented to the appointees by the Secretary to the President, Dr Nandika Sanath Kumanayake, at the Presidential Secretariat ton Monday (20) afternoon
The appointments were made to fill the vacancies createdy following the expiry of the terms of office of the previous members of the Finance Commission.
(PMD)
News
True leadership is not about titles or power, but about acting responsibly for the well-being of others – Prime Minister
Prime Minister Dr. Harini Amarasuriya stated that true leadership is not about titles or power, but about acting responsibly, with compassion, and working for the well being of the others.
The Prime Minister made these remarks while attending the President’s Guide Award and Prime Minister’s Award Ceremony, organized by the Sri Lanka Girl Guides Association, one of the country’s leading voluntary organizations dedicated to empowering girls and young women. The ceremony was held on Sunday (19th July )at Temple Trees in Colombo.
During the event, the Prime Minister presented medals and certificates to the award recipients.
A total of 350 awards were presented at this year’s ceremony, comprising 338 President’s Guide Awards and 12 Prime Minister’s Awards, in recognition of the recipients’ discipline, resilience, integrity, and commitment to serving others.
Addressing the occasion, Prime Minister Dr. Harini Amarasuriya stated that one of the greatest strengths of the Girl Guides association is its commitment to providing equal opportunities to every child, regardless of their background or abilities. The Prime Minister also emphasized that true leadership is not defined by titles or power, but by acting responsibly, listening with compassion, and working for the well-being of others.
The Prime Minister further noted that while women had limited opportunities in the past, today increasing opportunities are being created for girls and women across all sectors, and young women are making remarkable progress in every field. The Prime Minister further stressed that every girl and young woman deserves equal opportunities to improve themselves, noting that the country needs young women leaders who are ready to step forward to build a better future for Sri Lanka.
The Prime Minister also highlighted that, particularly at a time when Sri Lanka is undertaking significant economic and democratic reforms, achieving sustainable national progress requires not only economic growth but also the development of citizens who uphold strong ethical values and social responsibility. In this regard, she commended the invaluable contribution made by the Sri Lanka Girl Guides Association.
Guided by its motto, “Be Prepared,” the Girl Guiding Movement in Sri Lanka was first established on 21 March 1917 at Kandy High School by Miss Jenny Calverley Green. Today, the movement operates through seven branches; Butterflies, the Little Friends, the Guides, the Rangers, the Youth, the Differently Abled Guides, and the Community Guiding Units, catering to different age groups and abilities. The President’s Guide Award is the highest honour that can be achieved by a Girl Guide and is awarded only to those who successfully complete the required challenges, written and oral examinations, and the BP Challenge. The Prime Minister’s Award is presented as the highest recognition within the Ranger Guide section.
The event was attended by at the President of the Sri Lanka Girl Guides Association Swarnika Pitigala, Chief Commissioner Dr. Kushantha Herath, President’s Guide Commissioner Pushpa Perera, Prime Minister’s Guide Commissioner Aruni Karunaratne, other senior officials of the Sri Lanka Girl Guides Association, President’s Guides and Prime Minister’s Guides, as well as a large number of their parents.



(Prime Minister’s Media Division)
News
Customs asked to resume probe or face legal action
Rs. 16 bn BMW revenue fraud:
Public interest litigation activist Nagananda Kodituwakku has said he will initiate appropriate proceedings against Director General of Customs, Wimal S.K. Liyanagama, in terms of the Anti-Corruption Act No 9 of 2023, unless the Customs carries out a revenue fraud inquiry to recover approximately Rs 16 bn in lost government revenue.
General Secretary of Vinivida Foundation, and former Customs officer, Kodituwakku said that though the Department, in response to his request for a meeting to discuss the issue, in writing, assured them that the investigation was underway, they found that the actual situation was not so.
Kodituwakku alleged that the Customs Chief had neglected what he called statutory duties under the Customs Ordinance, by disregarding his request for a meeting.
Kodituwakku said the investigation into the importation of 1,728 brand new BMW vehicles, under the concessionary duty permits issued by the government for the public servants, between 2011 and 2014, had been stalled.
The civil society activist said that investigations had revealed the vehicles hadn’t been imported by the permit holders themselves but others. It also transpired that the value of the imported vehicles, mentioned in the commercial invoices, proforma invoices and the CusDecs, tendered to Customs in the names of the permit holders, were not the actual values for the vehicles in question.
The high-profile case has been handled by the Central Investigation Directorate, at that time headed by Murugesu Thayabaran, a batchmate of Kodituwakku.
The ex-Customs officer said that he had appeared as counsel for Thayabaran in Court of Appeal and was determined to bring the case to a successful conclusion. According to him, the importer, over the years, had been represented by nine President’s Counsel as the case dragged on from the time of P.S.M. Charles, Director General, Customs.
Kodituwakku made available letters he wrote to the Customs and other parties on this issue, to The Island. Pointing out that the Court of Appeal on 7 May, 2024, dismissed the importer’s final appeal regarding the case pertaining to the revenue loss of Rs. 16 bn, Kodituwakku said that although the court had cleared the way for the Customs probe, no action had been taken.
However, the Court of Appeal ruling was given before Liyanagama succeeded Seevali Arukgoda as DG Customs on 6 May, 2026. Liyanagama served as Director General of the Department of Management Services at the Treasury before the new appointment.
Kodituwakku said that he had also brought the Customs case to the attention of the Commission to Investigate Bribery or Corruption (CIABOC).
Emphasising the failure on the part of the Opposition to raise this issue, both in and outside Parliament, Kodituwakku said that since the exposure of the BMW scam, during Mahinda Rajapaksa’s presidency, there had been four presidents, namely Maithripala Sirisena, Gotabaya Rajapaksa, Ranil Wickremesinghe and incumbent Anura Kumara Dissanayake. Unfortunately, successive administrations had allowed the interested parties to drag the case. The lack of interest shown by political parties revealed that they not only protected those responsible but encouraged corrupt practices of allowing third parties to import vehicles in terms of permits issued to legitimate recipients of such permits.
Having campaigned on an anti-corruption platform, during the presidential and parliamentary polls in 2024, the NPP couldn’t, under any circumstances, turn a blind eye to this situation, Kodituwakku said, adding that even the IMF should be concerned of the failure on the part of successive governments to recover the money.
By Shamindra Ferdinando
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