Central Bank Governor 'on leave' pending Treasury bond probe

16 March 2015 - 296   - 0

Under-fire Sri Lankan Central Bank (CB) Governor Arjuna Mahendran on Monday went on leave pending the completion of a probe into allegations of insider trading in a Treasury bond issue, officials at the banking regulator said. Opposition parties have slammed the CB over the Treasury bond scandal in which the Bank accepted Rs 10 billion in bids, over the advertised Rs 1 billion at high interest rates. “He has gone on leave pending the completion of the inquiry,” one senior official said. While Mr. Mahendran has said he was not involved in the process which comes under the CB’s Public Debt Department, his son-in-law’s firm active participation in the deal has raised eyebrows. A 3-member committee of lawyers has been appointed to probe the matter. On Monday, the CB said the next Monetary Policy Review would be released on Wednesday, March 18. The Governor is unlikely to take part at the Monetary Board meeting with Senior Deputy Governor P. Samarasiri expected to represent the former. – ENDS -

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