The Buddhist organisation Bodu Bala Sena will meet with the governor of Sri Lanka’s Central bank to object to the launch of financial services under Islamic principles by a private bank recently.
In a letter to the governor, the BBS said:
“We have got a number of complaints from bankers and citizens that CBSL is not taking any measures to ban introducing religious based banking practices which might create social division in the country. We strongly believe this leads situations against equal rights ensured in the constitution,
“Our organisation decided to send a delegation to CBSL to meet with you or any responsible officer to discuss this nationally important matter.
"Considering the importance and urgency of this issue our delegation headed by some senior monks plan to meet you or your officials on 2015 June 9 (Tuesday) at 10.30 am at your office, we kindly request you to make arrangement to facilitate this important meeting. Your positive response is highly appreciated.”
Under Islamic banking, activities are compliant with Sharia law, which prohibits the charging and receiving of interest. It is one of the fastest growing sectors of the global banking industry and is used in several countries which do not have a Muslim majority, including the UK.