Asst Gov reveals how Monetary Board minutes were altered at behest of Dy. Governor

By Sarath Dharmasena and Shyam Nuwan Ganewatte


Testifying before the Special Presidential Commission of Inquiry investigating the bond scam, Assistant Governor of the Bank and Secretary to its Monetary Board H. S. Karunaratne yesterday said the minutes of the Monetary Board meeting held on March 6, 2015 had been altered on the instructions of Deputy Governor P. Samarasiri.

Karunaratne said he had altered the minutes according to the directives of Samarasiri and sent them to him.

"When the amended minutes were sent to him, Deputy Governor Samarasiri advised me to include another word in the minutes and as a result I had to include the word ‘temporarily’.

The amended clause read that CB Governor Arjuna Mahendran had instructed the issuance of treasury bonds on the direct system be temporarily suspended.Karunaratne told the Commission that he had taken down the most important points relating to the main subject and key decisions.

But, now the proceedings were recorded, he said when cross examined by the team of lawyers from the Attorney General’s Department headed by Senior State Counsel Shahida Bari.

Commission Chairman Justice K. T. Chithrasiri: When did recording of sittings of Monetary Board start?

Karunaratne: I cannot remember the exact date. It was in 2016.

Justice Chithrasiri: Was it after Dr. Indrajith Coomaraswamy assumed duties as the CB Governor.

Karunaratne: Yes, Your Lordship

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