ගෝල්ඩන් ක්රෙඩිට් අර්බුදයෙන් රට උගත යුතු පාඩම්
The Ceylinco crisis will hurt more than its owners — depositors’ lives are ruined and employees face losing their jobs, and the damage runs back into the economy. Golden Key took public deposits without registering with the Central Bank, which shows the rule of law is as absent in the private sector as anywhere else. Depositors were not uneducated people; they attended to the high interest rate and ignored the risk, never asking how a rate above the commercial banks could be paid at all. Ivan asks how a monthly package of 6.5 million rupees and six luxury vehicles can be called a salary, and whether those drawing it could not see whose flesh they were living on. When politicians plunder the state and eminent men in the private sector plunder their own depositors, the country has no good future. Golden Key attended to quantity and not quality — the same fault that has damaged tea and education.
ගෝල්ඩන් කී අර්බුදය
Golden Key Credit Card’s failure to pay interest on time has brought depositors to its door and shaken the whole Ceylinco group. The Central Bank has removed Seylan Bank’s board and placed it temporarily under Bank of Ceylon control. Golden Key took deposits and paid 30 per cent annual interest without being a registered financial business — funding those returns, it appears, by lending depositors’ money to Ceylinco property companies, which collapsed with the property market. Ten thousand depositors are owed some 25 billion rupees; the company’s eye hospital, teak plantation and Kirimandala Mawatha land cannot be liquidated quickly and would not cover it anyway. Ivan notes the chief administrative officer’s monthly package of 6.5 million rupees and six luxury vehicles, and argues such payments are extortion rather than salary. He divides depositors into three kinds, the third being people whose money could not safely be placed in a lawful institution.