Sri Lanka, June 15 -- In the wake of the multi-billion rupee fraud at the National Development Bank (NDB), the International Monetary Fund (IMF) has asked the Central Bank to strengthen the bank supervisory and regulatory mechanisms, according to the Committee on Public Finance (CoPF).

The CoPF which met under the chair of Samagi Jana Balawegaya (SJB ) MP Dr. Harsha de Silva took up the NDB fraud with the Central Bank officials including Governor Dr. Nandalal Weerasinghe recently.

Dr. de Silva inquired about the progress into steps taken by the Central Bank. He brought to the notice that the IMF, in its fifth and sixth review staff report, had mentioned the need for the strengthening of the Central Bank's supervisory and regulatory rol...