Saturday, 25 June 2016 09:45

CB GOVERNOR WON’T SEEK EXTENSION

Central Bank Governor Arjuna Mahendran informed the Central Bank Monetary Board that he would not seek an extension of his term until the Committee on Public Enterprises (COPE) investigations conclude. Mahendran’s term of office is to expire on June 30. COPE recently resumed investigations into allegations against Mahendran for having been involved in bond dealings favouring to a firm related to his son-in-law.

COPE has reportedly summoned Mahendran, senior CBSL officials and issued them an ultimatum to furnish details and documents with regard to the Central Bank bond issue to Auditor General. Various political parties including the Anti Corruption Front have accused Mahendran of having allegedly been involved in the Central Bank Bond issue favouring a firm related to his son-in-law.

Howerver, Mahendran denied any wrong doing.

A senior SLFP Minister told the Daily News that the SLFP has unanimously resolved that Central Bank Governor Arjuna Mahendra be denied a second term while Minister Kiriella stressing that he will not be removed.

He added that although there were various allegations thrown at Mahendran,none of them have been proved so far, hence there was no need to remove him from the current position of Governor.

(Daily News)

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