Jaffna Civil organizations accuse Colombo financial institutions of exploitation

[TamilNet, Wednesday, 28 April 2010, 04:45 GMT]
Private and government banks rushing to Jaffna peninsula to open their branches and the opening of the fifth branch of Colombo Stock Exchange (CSE) in Jaffna town Tuesday, in the name of development are but schemes aimed at exploiting the funds of peninsula residents, civil organizations in Jaffna said. They further accused the above financial institutions of employing only Sinhalese persons from South at all levels while denying job opportunities to the Tamil young men and women in the peninsula.

The civil organizations also said that these activities of government and private financial institutions are aimed at exploiting the funds of elderly persons and recipients of foreign currency from their relatives abroad.

Though the government and private institutions claim developing Jaffna peninsula is their aim peninsula people are not offered their due participation and share in these enterprises, they added.

Chairman of CSE Nihal Fonseka opened the fifth branch office located on Jaffna Hospital Road in front of the Central Bus Stand Tuesday.

Six stockbroker firms commenced operations at the Jaffna branch yesterday. They are Bartleet Mallory Stockbrokers (Pvt) Ltd, Asha Phillip Securities Ltd, Lanka Securities (Pvt) Ltd, Capital TRUST Securities (Pvt) Ltd, SKM Lanka Holdings (Pvt) Ltd and SMB Securities (Pvt) Ltd.


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