4 December, 2020

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CJ’s Bank Defends The Disclosure To ‘Authorities’, When Asked Who The ‘Authorities’ Were, The Bank Tightlipped

By Colombo Telegraph

The NDB Bank defended its decision to release the personal account information of Chief Justice Dr Shirani Bandaranayake to ” authorities” which it refused to name which also received the attention of the mainstream media, The Island newspaper reports today.

Chief Executive Officer NDB, Russell de Mel receiving the award from Eleni Chalkidouo of World Finance at the London Stock Exchange.

“We did the right thing on the advice of our lawyers and we were correct in our decision where we followed an ethical process,” NDB Bank Director/ CEO Russel De Mel told The Island Financial Review last night

He was responding to a question from The Island newspaper as to under what circumstances and ethics it released her personal information to “the authorities” due to the widely acknowledged secrecy clause in banking laws that personal account information could not be disclosed publicly.

The Banking Act No. 30 of 1988 specifies that banks have to be strict on the information and the operations of the bank and also its customers, but it could disclose information which is required by a Court of Law by the person or for the person that the information relates to in the performance of their duties and to comply with the provisions of the law.

When the newspaper asked what or who the “authorities” were and asked whether it was the Parliamentary Select Committee which probed the allegations, he was extremely tightlipped, The Island reported.

“The process is on where the first phase of the Parliamentary Select Committee is over and the second phase where the impeachment will be debated in Parliament will come soon. This is indeed a sensitive issue and we have decided to wait till the dust settles,” De Mel told The Island.

According to the newspaper, he also said that the Bank had been asked to maintain deft silence on the issue on the advise of lawyers. The name of the NDB Bank had been mentioned in many places and it was best to maintain silence, or else, it could lead to other complications. “There is also a public list where other witnesses have also been called as well which also includes other banks,” he said.

Last June,  the UK based World Finance magazine rated NDB as the ‘Best Commercial Bank’ in Sri Lanka. World Finance is a highly acclaimed international business journal that is renowned globally for its accuracy, credibility and wide readership. The prestigious accolade was awarded in recognition of the bank’s commitment to continued excellence and superior service to its customers. The award appraises excellence achieved by banks against several criteria, which include; overall performance, financial ratios, variety and clarity of products and services, corporate governance, alternative financial products offering, parallel market interaction and competitive strategy.

Commenting on the award, Chief Executive Officer of NDB Group, Russell De Mel said “We operate in a highly competitive market, which is a reflection of the sophistication of our customers today. With many banks competing in the market, present day customers are demanding for innovative, customized solutions that cater to a diverse range of individual needs.

This award demonstrates that we have the right strategy; supported by a performance driven culture, an innovative range of products as well as people with the right attitude to deliver consistent and sustainable value to our customers and other stakeholders.”

Two days ago a former Ceylon Chamber of Commerce Chairman and a Fellow of the Institute of Chartered Accountants of Sri Lanka and of the Chartered Institute of Management Accountants, UK, a former President of the Ceylon Chamber of Commerce and LMD Sri Lankan of the year 2001 Chandra Jayaratne has also raised the issue of leaking CJ’s banking details in an open later to the bankers.

Related stories;

Releasing CJ’s Financial Statements Not Only Unethical But Also Illegal – Wijayadasa Rajapakse

Leaking CJ’s Banking Details: Beware You May Be Impeached By Your Members, Clients, Shareholders And Stakeholders!

Breaking News: CJ Replies The Rupees 250 Million Bank Transaction Allegation – ‘False, Malicious And Deeply Disturbed’ – CJ

Breaking News: Chief Justice Replies The Most Serious Four Charges On Her Finances And Bank Accounts

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Latest comments

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    CJ should follow later Gamini Fonseka and cliam the damages from the NDB and the bank have done something illegal that I am going to close my account with this rogue bank.

    Rajapakshas have done too much damage for the economy and make the commercial banks bankrupt one by one.

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      I think that is the right attitude of man with a conscience Mr. Gajanayaka. I don’t deal with this bank but if I did I also would have terminated all my dealings right away.

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    I hope the “Account Holder” in this case CJ will be qestioning this aspect of the NDB giving out information to outsiders and we will come to know who those persons or institutions are. The Bank is obliged to provide that information to the account holder.

    Another aspect is “whether account holder’s permission was obtained bafore releasing any information to an outside party”?

    We will wait to see the developments.

  • 0
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    In terms of several laws in SL, a banker is authorised to reveal the details of a customer’s details of bank transactions to the authorities concerned. These authorities are the Financial Intelligence Unit of the Central Bank, Inland Revenue Department, Bribery or Corruption Commission, a court of law, a parliamentary select committee, a presidential commission and the exchange controller of the central bank.

    The authorities which gather such confidential information are supposed to use the info only for the purpose of conducting their investigations and not for any other purpose such as releasing to a third party to enable such party to tarnish the image of a customer. NDB Bank may have done its duty in good faith by following the law. But the unnamed authority to which it may have released this info, it appears, has released the same to a third party which act is illegal, unethical and immoral.

    Since any of the authorities mentioned above could be in this category, in the interest of maintaining their good name, it is important to name that authority rather than hiding it from the public. Also, the customer has a right to request his banker to reveal the name of that illusive authority since he should know who has released that information to a third party take undue advantage.

    It is very damaging to the bank itself and the country as a whole.

  • 0
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    Time to turn the tables and impeach Mahinda Rajapassa and his brothers for misconduct, violation of law, natural justice and due process, gross corruption, and bringing disrepute to the judiciary, the legislature and the sovereign people of Sri Lanka by running a Kangaroo Court called the Parliamentary Select Committee to impeach the Chief Justice on fabricated charges.

  • 0
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    Boycott NDB Bank and pull out your monies and accounts from it since private information is clearly unsafe there!

  • 0
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    Let not the errant bank officials get away with it. Now all high ups in all sectors have cultivated the despicable habit of carrying out illegal orders from the top with no questions asked. Damn this servility! These spineless jellyfish should be taught a lesson or two in the national interest. Government politicians, Police top brass, heads of departments and Ministry secretaries are meekly carrying out illegal orders from the top. That is the order of the day. And bank officials too have joined this motley gang. How could there be law and order or justice and fair play in the country if this state of affairs continued unchecked? Are our people morons? I can understand goons carrying out orders from their political masters. But high officials in the public and state sectors bending over backwards to please those in seats of power is unpardonable!

  • 0
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    This Russell scum bag has committed an unpardonable cooperate crime , his irresponsible act alone gave a negative impact on the bank, if the bank wants to have some sort of confidence within the general public and the cooperate world , all the share holders , stake holders, employees must demand his resignation and he must step down.

  • 0
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    A black mark on your bank my dear chap. Operating in a highly competitive market, Client confidentiality is sacrosanct in the financial industry.

  • 0
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    When ex-CJ Samarakoon was impeached under this very same constitution three decades ago, he and his attorney (just one) went to the then PSC and argued against it. But the then PSC found him guilty. No legal eagle objected to it with hair spitting arguments. All those details are in the Hansard. So are the other impeachment proceedings that followed. Hence this impeachment cannot be considered illegal or anything novel. For that reason, I consider this handing over an impeachment motion against the current CJ to the speaker is also legal.

    Unlike earlier times though, this CJ’s chose to respond to her impeachment charges in a different way. First, her son published a letter in the web. Then, her attorneys answered the charges in a letter the press. All that and smashing coconuts, parades by black coats, and NGOs, and accused and petitioners at her court, and monk tying up ‘pirth nule’, and padre blessings, and etc in court premises has polarised the entire impeachment proceedings as nothing but a political affair.

    Anyway, PSC proceeded with their inquiry. We were told that the CJ was degraded and abused. And CJ’s councils had raised hair splitting technical points and good examples and recommendations etc in the web. He councils said to have asked more time in the end at the PSC. This asking time is a known tactic by thugs and elected rouges and losers to prolong their ‘kudu’ and ‘kasippu’ and stay out of prison. Even civil cases they follow this tactic. But, is that the procedure we expect from the ‘Nadukara Hamuduruwo’, the CJ?

    Exploring Banking acts, legality and morality on how bank statements were obtained is a way to dodge the guilt as well. We must be told how the money mentioned therein was earned and why that bank account wasn’t declared in her asset declarations for ‘Nadukara Hamuduruwo’ is expected to be exemplary.

    The PSC has proceeded and the CJ was found guilty for three serious but straight forward charges. So, instead of accusing whistle blowers and running round the mulberry bush, CJ sponsors like Mr. Jayaratna should have come up with facts to prove her innocence. Whistle blowers can be investigated separately like in the case of Assange.
    Leela

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      Leela:
      Why don’t you take your arguments and stick them where the sun don’t shine because they are of no use to anyone of any intelligence. But then, they are meant to fatten your purse from we-know-where and don’t trot out the story you previously used about being independently wealthy or something and not needing that kind of dirty money.

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    The ” authority” must be Cabraal who is a disgrace to the accountancy profession in the country.

  • 0
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    LEAK ANYTHING AND EVERYTHING UNDER THE DIRECTION AND ORDER OF THE GREATEST WAR HEROES WHO DESTROYED THE NORTH AND EAST.
    NOW, THEY ARE DETERMINED TO DESTROY THE SOUTH AND THE WEST.
    THEN ONLY, THEY WILL ALL BE HAPPY AND GAY.

    • 0
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      Dear you sound like a good ol tiger boy. eh!

  • 0
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    Pls NDB, don’t issue my bank account details!

    • 0
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      Yeah, mine too!

      • 0
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        sorry , i understood now !!

      • 0
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        Samaraweera,
        Are you afraid that your reward money,(for holding pantahm to the regime), credited to your account will be exposed?

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      Sumanasekera:
      Why not? After all you are another pandankaraya of the regime that is ruining us.

    • 0
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      same emblem , same person what is this ?

  • 0
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    This is yet another scapegoat of the “EMPEROR”. Very soon he could be a “condom” or a “karapincha kolaya”. Afterwards, the Emperor will say “I don’t know”, why, why.

  • 0
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    I am going to close my account for sure at the NDB after this unpardonable error. I remember the former CEO who is now a MP – Eran Wickramaratne.I am sure under is leadership the so called authorities would never have got CJ’s details. He would have never allowed that. NDB needs a change in its leadership after this really bad fiasco.

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    In terms of the Banking Act of 1988, there is no provision whatsoever for a bank to to disclose such information to a Parliamentary Select Committee(PSC). Besides, the legality of this dubious PSC has still not been determined and is before the Supreme Court awaiting its verdict. In addition, considering the status of this customer and the fact that she banks exclusively with this Bank, elementary courtesy and decency demand that the Bank should have atleast brought up this matter to her notice when the enquiry was originally directed to the Bank. No such elementary and essential measures appear to have been taken by this Bank. Instead, after having surreptitiously leaked the information to unnamed “Authorities” concerned in the most blatant, illegal and unethical manner, and to make matters worse, the CEO of the Bank refuses to name who even these “Authorities” are. As a CEO if he is unable to define who are such “authorities” who are privy to such sensitive information, he is totally unfit to be even a Bank Executive, let alone a CEO of a Bank.My gut feeling is that this “authority” is none other than the notorious Goldquest Swindler, CABRAAL, correctly identified by Mr. Anil Fernando above. As a former banker, I can tell you with authority that no other commercial bank operating in the country would have ever succumbed to such pressure and stooped down to such low depths. Legal action against this Bank is imminent and its decision is a foregone conclusion.
    Considering the most unprofessional manner in which this bank has conducted itself, I appeal to all customers of this notorious bank to terminate their dealings with it ‘cos you too would become a victim of such atrocious behaviour in future leading to unimaginable consequences. Finally, I have serious doubts if this Bank ever sought any legal advise from a reputed legal firm on the issue, for if they did, they would not have got into this mess in the first instance.

  • 0
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    All depositors should withdraw their deposits from NDB as soon as possible

  • 0
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    Yes, depositors should be advised.

  • 0
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    If this bank with all its messes in the recent past gets the award, how messed up must the other banks be?

  • 0
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    Golden Key fell apart due to political attacks. Champika, Mervyn, Wimal and some others had been attacking Deshamanya Lalith Kotelawala. Mervyn Silva with his thugs stormed the Golden Key Office and demanded the staff to pay back all his monies (ill-gotten)and spread the word that Golden Key has cash problems and a number of depositors withdrew their monies. Golden Key hadn’t enough liquid cash but their assets were worth a few billions but when 20% or 30% of the deposits are being paid out, there is no liquid cash. Our family too had nearly 10 million and we are still waiting for a settlement. This is from foreign remittances and we are very badly affected but we know Hon. Lalith Kotelawala was not given enough time to settle the depositors but he was imprisoned. This too was due to pure vengence and his name was also coupled with the untimely death of Rev. Soma to attack him. All these unwanted things happen due to stupid politicians in this country.

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      I do not agree that ‘The Golden Key’ fell due to political attacks or ven. Soma’s death. The company fell due to high flying egos, frauds and mismanagement of its higher-ups. Besides, ‘The Golden Key’ never had a licence or an approval from the Central Bank to accept deposits from the public. For that reason alone, all the directors of the company should be jailed.

      But jailing directors does not answer depositors’ predicaments. So, the Supreme Court should have made all directors severally pay back all the depositors with their own assets bar their house if they are to stay free. Kothalawala and his directors should been given a specific time without being pestered to dispose of their assets and pay back the depositors.

      Then the CJ got three cases that was been heard in another bench for years under her wing on the pretext of wrong wording in an affidavit. With that she received Rs. 1.6 million (40% discount) to purchase an apartment the company owned.

      So, what can you expect? The depositors are in a soup. Lawyer who were retained by Kothlawala and co are parading on behalf of the CJ for their own game. Now you deduce your own conclusions.

      • 0
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        Leela why do you pose as ” A Depositor ” now , it’s the same emblam , try to be bit smarter than this.

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          Thank you for your great observation. Liars do not know how to lie properly like in the Impeachment case!

  • 0
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    scum Demel is another henchman. am sure he must have got some govt A/c to his bank for this. must boycot this bank as they can never be trusted.

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    Recently the central bank requested all details of NRFC accounts from Bnaks in the pretext of grantinmg a bonus for the account holders. Promptly this promise was dumped. They cannily obtained all details from banks on this bogus promise. Obviopulsy the Central bank has all the so called confidential detauils of all account holders. Central Bank is under the finance ministry and there is no secrecy at all in providing this information to bogus committees, parliamnet or not when it suits them.

  • 0
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    @ A Deposior: Greed was why deposits were made at Golden Key . You new the risk and took it dont complain now,

    De Mel is scum corporates watch out .Clear your accounts .

  • 0
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    The question is WHO at NDB Bank was responsible for the leak. And that person/s should be fired immediately so that the existing clients and potential clients will re-gain confidence. Every one seem to be getting on the case of Russel De Mel, a veteran banker with more than 30 years of experience.

  • 0
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    CJ can sue the NDB bank for damages. this happen to any one. This is breach of faith.

  • 0
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    The hastily drawn up standing orders to deal with the impeachment of Chief Justice Neville Samarakoon was what remained for years to deal with the Chief Justice of the day.

    The authority of a court of law to furnish any information from any party was never controversial. But does a select committee of a parliament has the same authority, other than what is provided in the standing orders?

    These are matters for those in power to ponder.

  • 0
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    If Anybody knows know how President Rajapakse started his active political carrier……I found that he based it on Two main foundations

    They are…….

    A)MR stole Tsunami Helping Hambantota Fund…
    B)MR used some of that money to Bribe VP to stop N and E voters voting for UNP RW and also hoodwinked both JVP and LSSP parties for MR’s side….and as a result RW lost the 2005 presidential election.

    After Bribing VP, President Rajapakse learnt the value of BRIBES.

    2)Therefore MR started to bribe all opposition parliament members and as a result over 100 crossed over to his side.

    3)Then he Bribed Buddhist Clergy…giving them super luxury cars and SUV’s, land, building Viharas, Pansals, Buddha statues, foreign tours, well fed with food and meals, media and TV coverage spending immensely.

    4)MR also made sure that all corporates and businesses who supported UNP and other opposition parties does not financially fund them anymore….and if they did so they will have to face his wrath.
    MR Frauduntly collapsed Golden key empire since Hon.Lalith Kotalawela was a UNP Financial supporter, Also acquisition of Sugar plantation and the factory which was under Mr. Jayawardena, acquisition Daya gamage sugar plantation, acquisition many UNP and opposition supporters Hotels, Businesses, and others through stock market etc..are mainly to Financially deprive and weaken the opposition parties.

    Do you know that in order to contest only for PROVINCIAL COUNCIL ELECTION, a candidate has to spend over 60 million rupees…..leave alone for general election. Just a coloured single off set poster could cost around rupees 400.00 each.

    Do you know that for MR last birthday…. paper ads alone he spent over Rs.750 Million…..Listen to UNP MP.Dayasiri Jayasekera talk about it in Parliament.

    So this is how MR suppress all opposition parties……either acq1uisition of their supporters businesses or bringing false litigation on fradulent charges.

    5)Also MR acquired all opposition Media institutes such as…Press, Radio, TV, foreign ministry personnel, media personnel and reporters and artists, bribing them with laptop computers and car loans etc. under his control and started bashing all opposition parties, and used them for his propaganda machine….a sign of absolute dictatorship.

    Also MR.used white vans, police, thugs and hired killers to intimidate opposition party supporters, activists and reporters.

    6)MR also replaced both Ex CJ’s…once with Sarath Silva and again with Asoka Silva….and made sure they get all the full benefits when they retire for the help they did for him to get out of Tsunami Scandal, bribed opp.MP’s to cross, obtained 2/3 majority in the parliament and brought in draconian 18th Amendment.

    7) Also MR gave high post to current CJ’s husband Mr.Kariyawasam as Chairman NSB, and took photos with her during Namal Rajapakse’s Law Graduation to get outside attention and favours from her…..but due to her strong ethical standings, he couldn’t convince her….and then MR applied his “Condom Theory” on her. That is what this CJ impeachment is all about.

    8)Also MR changed and sent all the Best Servicemen who are affiliated with opposition parties on early retirement and replaced them with his goons.

    9)When you here and see Daily Mirror Yapa – Rohitha Bogalagama Video clip…you see that yapa say he brought the 16 witnesses to clarify the validity of documents….and by this we note that the documents were collected only after the CJ trial began…. which say that the 117 who signed the motion without knowing the charges. Also CJ’s lawyers confirmed this.

    10) Therefore since MR made sure to weak opposition to such an extent, that no opposition will challange him for next few generations…he want to make sure this last CJ barrier also to be wiped out for good so he could have his total absolute dictatorial regime for ever…….MEDAMULANA MAHARAJANO….SA..U …SAAA..U. SSSSSSAAAAA……….UUUUUU.

    Therefore we as citizens have only this last opportunity to safeguard our Liberty, rights and deomcracy only by protecting CJ from impeachment and also the opposition should think deep on the gravity on this issue.

    Come January 3rd…we could see if Govt. and the opposition PSC 11 go in front of Court of Appeal…and see the outcome.

    Come Jan. 9th Parliament CJ hearing begins and we all request Govt. to broadcast the Debate LIVE on Radio, TV and Internet.

    Also we could witness who are the Parliament “Betrayers” of people who want to sell their pride respect and conscious for a dictatorial MR regime SANTHOSAM.

    Parliament CJ Impeachment Live TV, Radio coverage is a MUST.

    • 0
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      Your item B) action of MR could be justify for some extent depriving Ranil’s victory. If Ranil won that election SL northeast are a separated country today.

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