| Beginning of the end of Rajapakses: Foreign Bank 32 years in SL to close down |
The CitiBank was not a Bank which was just engaged in normal transactions , rather it played a key role in the facilitation of huge transactions of the Govt. – it was one of the Banks that provided financial facilities for the Govt. in the import of fuel and in the hedging deal ( ‘soodhuwa’ ) . In this connection ,the hapless Bank had to later on go in for litigation internationally to recover the monumental losses (polla weteema – in pure Sinhala) it incurred by trying to help the MaRa Govt. The CitiBank is the first Bank to have judiciously realized that the Rajapakse regime cannot go far . It has therefore decided to put up its shutters which was indicated when it notified its account holders to close their accounts within three months. The Bank has only 200 normal account holders engaged in ordinary banking transactions. All preparations have been made to transfer all pending transactions including loans to another Bank during this period of three months. The employees of the Bank are also to be transferred to other Banks . According to Banking circles , the CitiBank has taken this decision after getting wind of the fact that the Rajapakse regime is heading for an economic holocaust . Earlier on the Bank of America closed its SL branch and left the shores. |
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