Central Bank Bond Scam: What happened to the Monetary Board report? (Video)

Central Bank Bond Scam: What happened to the Monetary Board report? (Video)

Written by Lahiru Fernando

09 Jan, 2017 | 10:42 pm

According to the former Central Bank Deputy Governor – Dr. W.A. Wijewardena, there have been improvements in the primary dealer activities at the Central Bank since the change of CBSL Governor.

Reiterating the CBSL Press Notice, Dr. Wijewardena pointed out how the Central Bank announced that they (the CBSL) had considered the examination report prepared by CBSL staff and concerns on the “remarkable disparity” in the operation of the primary Dealer.

The actions taken by Central Bank – not announced (yet), added Dr. Wijewardena

“…But unofficially…”

The former Deputy Governor says, unofficially,  restrictions are imposed on the particular primary dealer by Central Bank, pending final resolution.

“The reason is that the Central bank cannot cancel the license of a primary dealer without going through the due procedure”, he said.

Why is it taking so long?

“It is not in public domain, because usually those reports that are submitted to monetary board on the examination of these financial institutions including primary dealers. They are not released to public domain because they are considered as reports containing sensitive reports”, said the former Deputy Governor.

The future

Thieves behind the Central Bank bond scam and the damage caused to Sri Lanka – Proven, said MP Sunil Handunnetti (Chairman of COPE)

“Now the government has something to prove.”

1. Prove the conclusions of COPE, the Auditor General and factors presented by all party members are wrong.

2. Prove wrong that Arjuna Mahendran and ‘Perpetual Treasuries’ earned an unusual profit.

Prof. Tissa Vitharana (General Secretary – Lanka Sama Samaja Party):

“I define the current administration as a poisonous administration. The leader of this administration is the Prime Minister. And the precedent he is setting is steering the entire government to its own collapse.”

Prof. Vitharana stated that ‘Perpetual Treasuries’ “should be banned” as several reports -including the COPE report – has found that money has been illegally earned.

He also said that he condemns how the prime minister is “shamelessly allowing such a fraud to continue.”

Meanwhile MP Vasudeva Nanayakkara (Secretary – Democractic Left Front) has said that a criminal justice commission has to be established where action will be taken against the wrongdoers.

“But action should first be taken against the prime minister for being a partner to corruption.” he added.

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