COLOMBO (News 1^st) – Addressing the May Day rally of the United National Party yesterday, Prime Minister Ranil Wickremesinghe said the Samrudi Fund and Samurdi Bank will be brought under the Central Bank of Sri Lanka. Executive Director of the Campaign for Free and Fair Elections (CaFFE), Keerthi Tennakoon spoke on the matter today (May 7).

According to Keerthi Tennakoon, the move would be highly controversial as there are 1074 Samurdhi Banks in the country, these 1074 Samurdhi Banks function under 331 companies and there are close to 140 billion rupees in deposits in the societies and committees under these 331 companies.

Further, he stated if the act regarding these Samurdhi Banks is to be amended, it has to be passed with a two-thirds majority in Parliament. Adding that it also needs the support of all provincial councils.