CBSL fails to comply with order issued by Presidential Commission of Inquiry

CBSL fails to comply with order issued by Presidential Commission of Inquiry

Written by Keshala Dias

08 May, 2017 | 8:00 pm

The Central Bank has failed to comply with an order issued by the Presidential Commission of Inquiry.

The Presidential Commission had instructed the bank to make available to Former Governor Arjuna Mahendran, Monetary Board minutes, board papers and memorandums during his tenure as Governor.

The Commission re-issued the order to the Monetary Board.

The Commission was keen to know who prepared the footnotes in the COPE report when Chairman of COPE Sunil Handunnetti provided evidence.

MP Handunnetti testified that Deputy Minister Dr. Harsha de Silva included all the footnotes in the final report in the documentation process.

He said the footnotes were added as there were disagreements on certain points, and thereby they were annexed to the report.

The COPE Chairman said his Committee considered the immediate losses calculated by the Auditor General but noted that COPE did not calculate the potential future losses.

Deputy Governor Dr. Nandalal Weerasinghe was extensively questioned on the fiscal policy.

Meanwhile, Attorney-at-Law Harsha Fernando suggested to the witness that the private placement method was flawed.

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