Minister seeks permission to use unclaimed funds in northern banks

[TamilNet, Wednesday, 30 September 2009, 04:13 GMT]
Minister Douglas Devananda said that he had sought permission from President Mahinda Rajapakse to use the funds in the form of cash and gold jewellery worth around 3000 million rupees lying unclaimed in the banks in the north for the development of the north, sources in Jaffna said. Around 1000 million rupees and gold jewellery worth 2000 million rupees stagnate in government and private banks in the north, he said in a press meet held Sunday in Jaffna.

The government badly needs the necessary resources to fund its much publicised development of the north, government officials in Jaffna said.

The money deposited and the gold jewellery pawned by account holders who had left the country, lost their lives in the war, gone missing and arrested, lie unclaimed in the banks of the north, the minister said.

The recent call made by Central Bank to account holders to activate their accounts had not brought forth sufficient response and the money and the gold jewellery in inactive accounts lie unclaimed.

Sri Lanka’s Central Bank 04 September 2009 announced that savings and safe deposits that have not been maintained as active accounts in banks over ten years will be taken over by the Central Bank soon.

“Central Bank would investigate into such accounts being held at all state and private banks and convert the value to be held by the Central Bank until such time the owners prefer to reclaim their assets,” a Central Bank official told media.