Investigations on opening and remitting to accounts at HSBC for Sri Lankan's in Maldives

Investigations on opening and remitting to accounts at HSBC for Sri Lankan's in Maldives

The Sunday Times newspaper had reported that the officials of the HSBC by granting international commercial loans have flouted the exchange control regulations

In the year 2013 the Sri Lankan government had allowed Companies in Sri Lanka have been

permitted to obtain international commercial loans up to $ million 30.In this regard an investigation is to be carried out it is learnt.

Under this pretext it is learnt the HSBC via their HSBC branch in Maldives had opened accounts for Companies and provided them with the opportunity to obtain foreign exchange.These transactions are not in adherence to the Central Bank's controller of exchange regulations.This is aiding the foreigners to deposit money in foreign currency.