LOLC burdened with over Rs.65 billion (US $ 520 million)
debt-Analysts
Sri
Lanka’s financial market watchdog lead by the Board that is handling monetary
matters had discussed a crucial issue that may cause another financial industry
downturn in the country which would be a result of former veteran lady banker Rohini
Nanayakkara and vehicle dealer Ishara Nanayakkara lead Lanka Orix Leasing
Company which has an alliance with the Japanese Financial giant Orix
Corporation, CSE Leaks learns from inside sources of the financial industry.
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| Driving forces of LOLC |
Accordingly
sources outline that several transactions that had happened among LOLC group
lead fame and new buyouts had caused LOLC financials weaker and weaker leading
the group in to a debt portfolio valued to the tune of Rs.65 billion or nearly
US $ 520 million.
Further
financial watchdogs had also opined that it may effect on another financial
industry crash that is more problematic than the Ceylinco lead Golden Key
fiasco and other related subsidiaries that started with a Rs.26 billion
financial fraud in an unregistered public deposit canvassing credit card entity.
