The NDB Fraud: Why Retail Investors Must Demand Accountability Today
The NDB Fraud: Why Retail Investors Must Demand Accountability Today The recent revelations regarding the fraud at National Development Bank (NDB) are deeply concerning. However, the greater danger lies in treating this as an isolated incident. History suggests this may only be the "tip of the iceberg." If we—the retail investors who provide the lifeblood of the Colombo Stock Exchange—remain silent, we risk seeing our investments eroded by systemic negligence. Silence is not a strategy. It is time for collective action. To safeguard the future of our capital market, we must demand transparency and reform from four key pillars of the financial system: 1. The Central Bank of Sri Lanka (CBSL) The Banking Supervision unit is the first line of defense for the public. We must formally query: How did existing supervision protocols fail to detect these irregularities? What specific, updated regulatory frameworks have b...