News
Rs 13 bn NDB fraud: Int’l forensic audit ordered
The National Development Bank PLC (NDB), in consultation with the Central Bank, will soon appoint an international firm to conduct a comprehensive forensic audit into the Rs 13.2 billion bank fraud, currently being investigated by the Criminal Investigation Department (CID).
Controversy surrounds the failure on the part of relevant authorities to detect the massive scam that certain employees started perpetrating in mid-2024.
Declaring that day-to-day developments, relating to the NDB PLC, were under scrutiny, the Central Bank said that the NDB, in consultation with CBSL, was in the process of finalising arrangements to engage a leading international firm, with experts from overseas, to conduct a comprehensive forensic audit into the incident.
The Central Bank stated: “The scope of this audit will apart from matters directly related to the commission of this fraud, also fully address and assess any failures on compliance with regulatory requirements on control, oversight and governance during the period in which the fraudulent transactions took place. The forensic audit is expected to commence shortly, and its progress, including any interim findings as well as the final report, will be submitted directly to CBSL who will directly engage with the auditors to the extent considered necessary during the audit.
In parallel, CBSL has directed NDB to take immediate and expeditious measures to strengthen its internal controls and governance processes, with particular focus on addressing identified lapses. NDB has also been required to commission an independent third-party review to assess the adequacy and effectiveness of its policies, procedures, systems, and internal controls.
NDB continues to meet all regulatory requirements relating to capital and liquidity. CBSL remains in close and continuous engagement with the Board and management of NDB, as well as other relevant stakeholders, and stands ready to take any further measures necessary to safeguard the interests of depositors and ensure the stability of the financial system. There is no evidence of any other regulated financial institution suffering any loss arising from the incident at NDB and the public are requested not to be misled by any statements to the contrary made in various fora.”
NDB board directors include Sujeewa Mudalige – former Managing Partner of PwC / Past President of CA Sri Lanka, Hasitha Premaratne – Managing Director of Brandix Group, Shanil Fernando – founding member of Virtusa Corporation and Co-Founder of Sysco Labs, Bernard Sinniah – former Managing Director of Citibank and Kasturi Chellaraja – former Group CEO of Hemas Holdings PLC.
The external auditors of NDB Bank PLC is Ernst & Young.
Meanwhile, the Committee on Public Finance (CoPF) that recently met under the Chairmanship of Member of Parliament Dr. Harsha de Silva observed, with serious concern, that there appear to have been considerable lapses in corporate governance at the bank, deficiencies in supervision by the relevant departments of the Central Bank of Sri Lanka, and undue delays in the reporting of material information.
The Committee firmly underscored that such shortcomings are unacceptable and directed that immediate corrective measures be undertaken. It further emphasised that it will continue to closely monitor this matter and exercise stringent oversight to ensure full accountability, transparency, and the safeguarding of public confidence in the financial system.
The NDB issue was dealt with when the Governor of the Central Bank Dr. Nandalal Weerasinghe, along with members of the Governing Board, the Monetary Policy Board, and senior officials, attended the meeting as part of the Central Bank’s statutory presentation to Parliament conducted once every four months.
News
Bambalapitiya Railway Station renovated under the “Dream Destination” project opened to the public
Prime Minister Dr. Harini Amarasuriya stated that Sri Lanka is now creating a common dream as a nation and that the Government’s objective is to make public transport the convenient choice for the people. The Prime Minister made these remarks while participating in the ceremony held to open the renovated Bambalapitiya Railway Station under the “Dream Destination” project.
The renovated Bambalapitiya Railway Station was opened to the public on 10 September under the “Dream Destination” project, jointly implemented by the Ministry of Transport, Highways and Urban Development and the Sri Lanka Railways Department in line with the Clean Sri Lanka national programme. Prime Minister Dr. Harini Amarasuriya participated in the occasion.
The Prime Minister also inspected the renovated railway station, as well as the new pedestrian overpass providing access to the railway station, constructed by the Road Development Authority for which the Dawoodi Bohra community in Sri Lanka contributed Rs. 60 million.
Addressing the gathering, the Prime Minister expressed her special appreciation to the Bohra community for taking the initiative to renovate and provide the people with improved facilities at the Bambalapitiya Railway Station, a busy and well-known location in the Colombo District.
She stated that the renovation of public spaces and the provision of improved facilities have contributed to generating greater interest and a more positive perception of public transport among the people.
The Prime Minister also expressed her appreciation to the Minister of Transport, Highways and Urban Development, the Deputy Ministers and the staff for their contribution towards improving public transport services and attracting greater public interest towards these services.
The development of a country is not determined by the number of private vehicles it has. It is determined by the manner in which people use public transport. The Government’s objective is to improve the public transport service, which has disappointed the people for many years, and create a situation where people feel that public transport is more convenient and safer than using a private vehicle. The Government’s commitment to public transport is clearly demonstrated by the increased allocation of funds for the sector. The ’Dream Destination’ programme is another significant initiative under this effort, bringing together State institutions and the private sector to contribute to national development,” the Prime Minister stated.
“A country does not belong only to the Government. A country is the home for everyone who lives in it. It is the responsibility of all of us to contribute to that home through our knowledge, labour or resources. For a long time, we did not have a common dream as a country. Today, we feel that such a dream is beginning to emerge.
“We have a collective dream. The journey towards that dream is the collective journey we have begun together to build our country, which is our common home.
“What we witness here today is the active participation of our people, our diverse communities and the private sector in this journey. Such collective participation is essential to moving a country forward. Therefore, we deeply appreciate this contribution.
“The Bohra community reminds us today of the importance of this collective spirit. We have now embarked on a collective journey. We share a common dream of what our country should be, what the future of our country should look like and what kind of experience life in our country should offer. The Clean Sri Lanka national programme further strengthens these objectives,” the Prime Minister further stated.
Addressing the gathering, Deputy Minister of Urban Development Eranga Gunasekara stated that increased funding would be allocated to the Sri Lanka Railways Department for development activities next year. He noted that public transport and railway services had not previously received sufficient attention from the Government, but that this would change moving forward.
“Our transport services are progressing step by step, and the railway system is a key component of this development. Accordingly, on the instructions of the President, we will commence the electric railway system, which has long been a dream for our country, next year. We expect to introduce electric railway services from Maradana to Makumbura, from Maradana to Panadura and from Maradana to Ragama. We will also commence work to extend the Kelani Valley railway line from Avissawella to Ratnapura.
He also appreciated the contribution made by private institutions towards the “Dream Destination” project without seeking any promotional benefits in return.
Speaking on behalf of the Dawoodi Bohra community, Khuzaimah Jefferjee stated that the Dawoodi Bohra community, which has been part of Sri Lanka’s social, cultural and economic landscape for more than 150 years, believes that being a citizen of the country means more than simply living in the country. It means contributing to the country, caring for it and leaving behind a better country for future generations.
He said that, as part of this responsibility, the community had taken steps to renovate, modernise and beautify the Bambalapitiya Railway Station. He added that the community hopes these efforts will make the daily journeys of passengers a cleaner, safer, more convenient and dignified experience.
The occasion was attended by the Deputy Speaker of the Parliament of Sri Lanka Dr. Rizvie Sally, Deputy Minister of Religious and Cultural Affairs Muneer Mulaffer, Mayor of the Colombo Municipal Council Vraie Cally Balthazar, Secretary to the President Dr. Nandika Sanath Kumanayake, Secretary to the Prime Minister Pradeep Saputhanthri, General Manager of Sri Lanka Railways Padmapriya, Janab Amil Saheb Ibrahim and representatives of the Dawoodi Bohra community, officials of the Clean Sri Lanka programme and several others.


[Prime Minister’s Media Division]
News
Steps being taken to reduce paper usage in parliament and the public sector through digitalisation – PM
Prime Minister Dr. Harini Amarasuriya stated that steps are being taken to reduce the use of paper in Parliament and the public sector through digitalisation.
The Prime Minister made these remarks in Parliament on Thursday (10 September) in response to a question raised regarding digitalisation and the use of paper.
The Prime Minister further stated:
“The total expenditure incurred in 2023, 2024 and 2025 for the provision of Hansard reports, Order Books, Agendas and other parliamentary printed materials provided to Members of Parliament and Ministers for use within the Chamber is Rs. 45.3 million in 2023, Rs. 58.7 million in 2024 and Rs. 73.1 million in 2025.
All these printed materials have been produced based on requests made by Parliament. At the same time, a programme is currently being developed to reduce the use of paper.
In accordance with a request made by the Secretary to the Treasury to the Secretary-General of Parliament, the Committee on Parliamentary Business considered the possibility of submitting reports to Parliament solely in digital format in the future. It was decided to conduct a survey to ascertain the preference of each Member of Parliament. Based on the results of the survey, arrangements will be made to provide relevant documents digitally to Members who prefer digital copies, while printed copies will be provided to those who prefer printed versions.
Following the completion of this survey, arrangements will be made to implement the programme on a date to be determined by the Committee on Parliamentary Business.
Similarly, all ministries and government institutions are currently taking steps towards digitalisation while reducing their use of paper. However, this process will take some time. In this manner, particularly the exchange of files and many other such processes can be facilitated through digital systems in the future.
For example, in the Ministry of Education, applications for leave submitted by university lecturers for overseas travel were previously submitted to the Ministry in printed form. The entire process has now been digitalised. The Ministry, through the University Grants Commission, provides approval for such leave applications through a digital process. Ministries across the government are taking similar measures. We believe that once digital systems are fully established, we will be able to significantly reduce the use of paper.
Responding to a question regarding measures to reduce the weight of schoolchildren’s bags, the Prime Minister stated:
The weight of students’ books will be reduced through the activity-based learning process introduced under the new education reforms. Since the books will be kept in the classroom, students will no longer need to carry them back and forth. They will only need to take the books home at the end of the term after completing their work.
From 2027, a module-based learning process will be introduced for Grade 6. Modules will not consist of large textbooks; instead, students will be provided with modules relevant to each subject for the particular term. Therefore, this system will significantly reduce the weight of schoolchildren’s bags.
[Prime Minister’s Media Division]
Latest News
INS Udaygiri departs Colombo concluding formal visit
The Indian Naval Ship (INS) Udaygiri departed the Port of Colombo today, 11 September 2026, following the successful completion of a four day official visit.
On her departure, the Sri Lanka Navy bade farewell to the ship in accordance with time-honoured naval traditions.
During the visit, naval personnel from both navies engaged in joint initiatives to strengthen bilateral ties. These included a friendly volleyball match, a beach cleanup along the Galle Face
promenade, and a training exercise on Visit, Board, Search, and Seizure (VBSS) conducted by the Sri Lanka Navy Special Boat Squadron (SBS).
As part of the visit, the Indian Navy handed over a consignment of spares and supplies to the Sri Lanka Navy. Visiting crew members also toured key tourist attractions in and around Colombo.
Official interactions of this nature aim to enhance cooperation and knowledge-sharing between the two maritime forces, supporting joint responses to evolving regional maritime challenges.
-
News7 days agoNamal remanded until Sept. 18 over Airbus deal investigation
-
Latest News6 days agoTharanga creates history with Diamond League crown in Brussels
-
Sports22 hours agoDDS set to lose Test captaincy
-
Features5 days agoAfter the parade: What a traffic OIC’s walk-out tells us
-
News6 days agoDispute which triggered listed company director being detained at BIA resolved
-
Editorial7 days agoPower vs Equality
-
Editorial5 days agoArrests as theatre
-
Latest News5 days agoHarshitha’s composed knock seals Sri Lanka’s semi-final berth
