CBSL governor provides a testimony at the Presidential Commission

CBSL governor provides a testimony at the Presidential Commission

Written by Staff Writer

31 Dec, 2018 | 9:12 pm

COLOMBO (News 1st) – Governor of the Central Bank Dr. Indrajit Coomaraswamy appeared before the Presidential Commission of Inquiry on irregularities at SriLankan Airlines, SriLankan Catering, and Mihin Lanka to provide a testimony today (December 31).

The Governor confirmed that the CBSL has taken steps to amend section 04 of the Registered Stock and Security Ordinance in a bid to address a number of concerns on the issuance of Treasury Bonds.

Explaining the processes executed by the Central Bank and its public debt department when issuing government securities, the governor further stated that since 2015 treasury bonds have not been issued through direct placements, and that the central bank now follows a hybrid system when issuing treasury bonds. It was also revealed that several instruction manuals issued by the central bank were not approved by the relevant officials, and no text or document was available to identify those responsible for preparing such documents.

The governor also requested the commission to summon the former governor of the central bank and the former superintendent of the public debt department, Ajith Nivard Cabral.

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