Attorney General Jayantha Jayasuriya lighting the traditional oil lamp to inaugurate the 43 annual convention of the Bar Association of Sri Lanka at Kingsbury on Saturday (March 25). Chief Guest at the event Prime Minister Ranil Wickremesinghe looks on. The induction of the BASL’s new President U. R. de Silva also took place at the same event (Pic courtesy PM’s Office)
Central Bank bond scams
Monetary Board probe reveals
heavy EPF loss 9.5 Bn loss
A special investigation, commissioned by the Monetary Board of the Central Bank of Sri Lanka, has revealed that bond scams under the current government have caused a staggering loss of about Rs. 10 billion to the Employees’ Provident Fund (EPF).
A report prepared by the investigation committee is scheduled to be submitted, within next few days, to the Committee on Public Accounts and the Presidential Commission of Inquiry into the controversial bond transactions.
The report was submitted to the Monetary Board meeting on March 23, according to highly placed sources. The investigative team led by Assistant Governor of the Central Bank of Sri Lanka (CBSL), Kumudinee Saravanamuttu, looked into the investment of EPF monies in Treasury bonds in 2015 and 2016.