2024-06-11
It was disclosed that even though it is clearly stated by law that online casinos cannot be carried out, online casinos operate in the open depriving the country of the revenue due without no implications. The Chair of the Committee on Public Finance Hon. (Dr.) Harsha de Silva directed that a letter be sent to the Hon. Minister of Finance requesting for his immediate attention regarding the matter.
This was taken into discussion at the Committee on Public Finance which met under the Chairmanship of Hon. (Dr.) Harsha de Silva recently (June 06).
The importance of establishing a Casino Regulator was also highlighted at the Committee on Public Finance. Officials representing the Ministry of Finance and the Central Bank also was of the view that many issues pertaining to Casinos can be resolved following the establishment of a Casino Regulator.
The Chair instructed the officials present to take immediate measures and not to delay further the necessary laws to establish a regulatory authority which is very important to attract foreign investors and to collect the revenue due to the government from the casino business.
Following the aforesaid discussions, the Committee took into consideration the Regulations under Section 4 read with section 3 of the Casino Business (Regulation) Act No. 17 of 2010 and an Order under Section 4 read with section 3 of the Casino Business (Regulation) Act No. 17 of 2010. The Regulation and Order was then approved by the Committee following careful consideration.
The Committee on Public Finance also took into consideration the Notification under Section 27 of the Welfare Benefits Act, No. 24 of 2002 and was approved by the Committee.
State Minister Hon. (Dr.) Suren Raghavan, and Members of Parliament Hon. Nimal Lanza, Hon. Mayantha Dissanayake, Hon. Chandima Weerakkody, Hon. (Dr.) Nalaka Godahewa, Hon. Harshana Rajakaruna, Hon. Madhura Withanage were present at the Committee meeting held.
2026-10-08
The Committee on Public Finance recently summoned officials of the Central Bank of Sri Lanka to Parliament to inquire into the financial irregularities identified at NDB Bank and the final audit report relating to the matter.The Committee meeting, chaired by Hon. Member of Parliament Dr. Harsha de Silva, discussed irregularities identified in NDB Bank’s financial statements, shortcomings in the audit process, and the relevant audit reports.The meeting was attended by Hon. Deputy Ministers Chathuranga Abeysinghe, Dr. Kaushalya Ariyaratne, and Nishantha Jayaweera, as well as Hon. Members of Parliament Attorney-at-Law Rauff Hakeem, Ravi Karunanayake, Ajith Agalakada, Nimal Palihena, Wijesiri Basnayake, M.K.M. Aslam, Champika Hettiarachchi, and Attorney-at-Law Lakmali Hemachandra.The Committee also focused on the findings of the investigation conducted by the Sri Lanka Accounting and Auditing Standards Monitoring Board (SLAAMB), as well as the findings revealed through the investigation conducted by Deloitte Touche Tohmatsu India LLP. In particular, the Committee inquired into the failure of the external auditors to identify irregularities in NDB Bank’s financial statements.The accountability of senior management with regard to corporate governance and risk management in relation to the financial irregularities was also discussed.Furthermore, as a significant proportion of NDB Bank’s shares are held by institutions representing public and state funds, the Committee also considered the potential impact of such financial irregularities on public funds and the general public.The Committee also discussed the progress made by LankaPay in establishing a centralized fraud monitoring system to prevent fraud within the financial system. The need to strengthen fraud monitoring systems at the individual bank level to monitor transactions carried out within each bank was also emphasized.Accordingly, the following observations are included in the final audit report concerning the financial irregularities at NDB Bank:1. The audit covers the period from 1 April 2016 to 31 March 2026. The audit report specifically identifies the financial impact arising from fraudulent transactions amounting to Rs. 13,639,664,684 (Rs. 13.6 billion).2. According to the disclosure made on 29 September 2026, the financial impact arising from the fraudulent transactions is as follows:• Rs. 1.5 billion for the period prior to 1 January 2025;• Rs. 9.6 billion during 2025; and• Rs. 2.5 billion for the quarter ended 31 March 2026.3. Compared with the initial disclosure made by NDB on 6 April 2026, the reported amount of the fraud has increased by Rs. 0.4 billion, from Rs. 13.2 billion to Rs. 13.6 billion. Compared with the amount disclosed by NDB on 26 June 2026, based on the interim report dated 22 June 2026, the additional amount of fraud is Rs. 60 million.4. The final audit report has also confirmed the previous disclosures that no customer accounts were affected as a result of the fraud incident.5. The report has identified several governance failures at NDB relating to the processing of CEFT transactions, user-level activities within the Core Banking System, and the management of user credentials and access information. In addition, shortcomings have been identified in several operational areas, including transaction monitoring, daily account reconciliation, financial compliance, internal audit, branch network management, and operational risk management.6. The audit report has made comprehensive recommendations to strengthen the control mechanisms, governance structures, and processes relating to the above-mentioned activities of the bank.
2026-10-05
The Parliamentary Caucus for Persons with Disabilities gave extensive focus to the draft Bill intended to repeal and replace the Protection of the Rights of Persons with Disabilities Act No. 28 of 1996. Detailed deliberations took place when the Caucus met recently in Parliament under the Chairmanship of Hon. Sugath Wasantha De Silva, M.P.Addressing the meeting, the Chair of the Caucus highlighted that over the 30 years following the enactment of the 1996 legislation, the need to pass a new law concerning the rights of persons with disabilities has been continuously discussed. He pointed out that although Sri Lanka ratified the United Nations Convention on the Rights of Persons with Disabilities (UN CRPD), adopted in 2006, in the year 2016, the country has not yet been able to formulate domestic legislation aligned with the Convention. The Chair further explained that despite various Cabinet decisions taken since 2016 to draft this Bill, certain discrepancies have arisen between the original intent and the current drafts; hence, it is imperative to resolve these issues through consultations with all relevant stakeholders.Ministry officials clarified that the model draft Bill—prepared by a sub-committee comprising members of the National Council for Persons with Disabilities incorporating their observations—had been forwarded to the Legal Draftsman's Department. Subsequently, the revised draft prepared and returned by the Legal Draftsman’s Department to the Ministry is currently undergoing a process to gather observations from the National Council.All participating parties expressed their views on progressing the legislative process by taking into consideration prior observations submitted by the Attorney General’s Department, recommendations of the Human Rights Commission, and input from various stakeholders. Furthermore, extensive discussions took place on the necessity of establishing an independent monitoring mechanism in compliance with the UN Convention on the Rights of Persons with Disabilities (UN CRPD).Representatives of the National Council for Persons with Disabilities emphasized the importance of ensuring direct representation and participation of the disability community in enacting new laws and formulating policies, grounded in the principle “Nothing About Us Without Us.” Special attention was also directed toward legal provisions related to providing suitable employment opportunities for persons with disabilities, ensuring equal service conditions and remuneration, providing reasonable accommodation in workplaces, and strengthening policy proposals and regulations concerning the employment quota allocated for persons with disabilities in the public service.The meeting underscored the necessity of reaching a consensus among all relevant institutions to expeditiously formulate a sustainable legal framework that secures the rights of the disabled community in alignment with current socio-economic contexts and international standards.The meeting was attended by the Deputy Co-Chair of the Caucus, Hon. (Dr.) Pathmanathan Sathiyalingam, alongside Members of Parliament Hon. (Dr.) Nihal Abeysinghe, Hon. Attorney-at-Law Susantha Dodawatta, Hon. Padmasiri Bandara, and several other Parliamentarians.In addition, officials from the Ministry of Rural Development, Social Security and Community Empowerment, the Legal Draftsman’s Department, the Attorney General’s Department, and representatives of the Drafting Sub-Committee of the National Council for Persons with Disabilities participated in the discussion.
2026-10-02
Following discussions, the Sectoral Oversight Committee on Governance, Justice and Civil Protection approved the Anti-Corruption (Amendment) Bill.The decision was made when the Sectoral Oversight Committee met in Parliament recently (Sep. 30) under the chairmanship, Hon. Member of Parliament Dr. Najith Indika.During the meeting, the Committee discussed practical issues that have arisen in implementing the Anti-Corruption Act, No. 9 of 2003, discrepancies between the Sinhala and English versions of the Act, the electronic system for submitting declarations of assets and liabilities, and public access to such declarations.The Committee also discussed matters including resolving the technical and administrative issues affecting the effective implementation of the Act. Following these discussions, the Committee granted its approval to the Anti-Corruption (Amendment) Bill.
2026-09-30
It was revealed at the Ministerial Consultative Committee on Youth Affairs and Sports, which met recently in Parliament under the chairmanship of Hon. Minister of Youth Affairs and Sports Sunil Kumara Gamage, that arrangements are being made to gazette and present to Parliament a new Bill prepared to completely reform the governance structure of Sri Lanka Cricket.It was stated before the Committee that the proposed new cricket governance structure would include independent directors. Under the proposed new legislation, District Cricket Associations will no longer engage directly in decision-making with Sri Lanka Cricket, but will instead function through Provincial Cricket Associations.The Committee was also informed that Sri Lanka Cricket provides Rs. 900 million annually, together with equipment, for school cricket. It was further revealed that plans have been proposed in consultation with the Ministry of Education, Higher Education and Vocational Education to formalize the recruitment of coaches and the player selection process.Meanwhile, the Committee reviewed the progress in implementing the recommendations of the Auditor General relating to sports associations. It was stated that 33 sports associations have completed the relevant recommendations, while reports are due to be obtained in respect of a further 33 associations.The Ministry has instructed that the collection of fees for walking tracks and sports complexes used by the public for health and exercise activities be suspended immediately. The Ministry’s policy that sports facilities should be maintained not as profit-making ventures, but as a government responsibility for the promotion of national health and community welfare, was also emphasized.It was also stated that, under the plan to provide at least one synthetic running track in every province, the next synthetic track is scheduled to be constructed in Anuradhapura. The Committee was informed that there are currently only two synthetic tracks in the country.The Committee also discussed matters relating to the development of sports facilities in the Ampara District, the development of Weber Stadium in Batticaloa and the Hingurakgoda Sports Complex, improvements to sports facilities in the Hali-Ela area of Badulla, and resolving issues at the Bandaragama Public Grounds in Kalutara.Furthermore, the Committee was informed that when allocating government funds for international competitions, funding will be provided only for official national teams representing Sri Lanka and officially recognized international tournaments. It was also revealed that no discrimination based on race or region would be made when selecting national teams or sending teams to participate in overseas competitions.The meeting was attended by Hon. Deputy Minister of Youth Affairs Dinidu Saman Hennayake, other Deputy Ministers, Hon. Members of Parliament, officials of the Ministry of Youth Affairs and Sports, and members of the Transformation Committee of Sri Lanka Cricket, among others.
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