Special Trial-at-Bar to Hear the Greek Bond Case Against Former Central Bank Governor Ajith Nivard Cabraal

COLOMBO (News 1st) - 

Chief Justice Preethi Padman Surasena, based on a request by the Commission to Investigate Allegations of Bribery or Corruption, has appointed a special permanent three-member High Court Trial-at-Bar to hear the case against former Central Bank Governor Ajith Nivard Cabraal for breaching court conditions related to the Greek bond case.

Justices of the High Court Manoj Thalgodapitiya, Udesh Ranatunga and Buddhika Sri Ragala have been appointed to the Trial-at-Bar. 

According to the terms of a previous court agreement, former Central Bank Governor Cabraal was required to pay over Rs. 1.84 billion to the state, a sum which he has failed to settle.

The case stems from a CIABOC investigation into the purchase of Greek government bonds while Greece was facing a severe economic crisis.

It is alleged that the decision to invest, despite the risks, resulted in a loss exceeding Rs. 1.84 billion to the state.

In December 2025, the Colombo High Court ordered the conditional release of Ajith Nivard Cabraal, while three other defendants former Deputy Governor Dharmasiri Deerasinghe and Assistant Governors Don Wasantha Ananda Silva and M.A. Karunaratne were released unconditionally.

Former CBSL Governor Cabraal was released on the condition that the total loss of Rs. 1.84 billion be credited back to the Central Bank of Sri Lanka within three months.

The deadline for the payment expired without the funds being settled on the March 10th, 2026.

Due to the breach of conditions, the CIABOC requested the Chief Justice to appoint a Special Trial-at-Bar to proceed with the case.