EPF should exit banking sector and Central Bank should leave private banks in private hands

EPF should quit the banking and financial sector as fast as possible and the Central Bank should leave private banks in the hands of the private sector. That is in line with good governance in central banking 

February 9, 2015 -Monetary Board acquiring private banks through EPF 

The latest reports filed by private banks and a few financial sector non-bank institutions with the Colombo Stock Exchange reveal that the Employees Provident Fund or EPF owns shares up to the maximum limit of 10% of the issued share capital of banks and a significant portion of the shares issued by other non-bank institutions. 

EPF Should Exit Banking Sector and Central Bank Should Leave Private Banks in Private Hands by Thavam Ratna

Posted by Thavam