CB Governor says not seeking reappointment
Under fire Central Bank Governor Arjuna Mahendran said he would not seek reappointment when his term ends next Thursday 30, after the Government came under intense pressure to replace the controversial official.
Governor Mahendran informed the Monetary Board, which is the legal authority that governs the Central Bank of Sri Lanka, that he would not be seeking reappointment until the Parliamentary Committee on Public Enterprises (COPE) reports on its findings related to the 2015 and 2016 Treasury bond controversies, a press release from the Bank said yesterday.
Mahendran informed the Monetary Board of his decision when it met with a quorum of three members last morning.
In its statement yesterday, the Central Bank said: The Governor of the Central Bank of Sri Lanka Mr Arjuna Mahendran informed the Monetary Board at its meeting held on Friday, 24th June, 2016 that he would not be seeking re-appointment as Governor of the Central Bank of Sri Lanka when his term finishes on Thursday, 30th June, 2016 until the Parliamentary Committee on Public Enterprises makes its findings known on issues related to the issuance of Treasury Bonds in the years 2015 and 2016.
Speculation is rife that Monetary Board will promote one of its Deputy Governors as Senior Deputy Governor to function as CEO of Central Bank until the COPE report is presented to Parliament, and the Government can make a decision on granting Mahendran a further six year term.
But corruption watchdogs are warning that this de facto ‘acting’ appointment could be Deputy Governor P. Samarasiri, himself implicated in the alleged bond scam of February 2015.
Advisor to the Anti Corruption Front, Rajith Keerthi Tennakoon warned that any attempt to appoint Deputy Governor Samarasiri would be controversial, since he had “provided the logistics” for the controversial bond auction in 2015. “This is a conspiracy, some kind of political game to reappoint Mahendran at a later date,” Tennakoon said.
Deputy Governor Samarasiri is not the senior most Deputy Governor at the Central Bank but has been appointed as Senior Deputy Governor (SDG) of Central Bank position over the past year during Governor Mahendran’s absence. The policy of appointing a Deputy Governor who is not the most senior of three serving DGs as SDG first occurred under the tenure of Central Bank Governor Ajith Nivaard Cabraal and has been continued under the present administration. The senior most Deputy Governor at Central Bank at present is Dr. P. Nandalal Weerasinghe.
(Source: FT.LK – By Dharisha Bastians)
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this issue has been blown out of proportion one can say a the opposition has made this issue which is like a ant hill to a mountain, as highlighting and fussing about this will automatically cover up all the wrong doings and corruption they did during their tenure, any way people will never forget what happened in the past, the Tsunami Helping hambantota, the express ways highways which is a few of them
May god bless this country.
Bye Bye Bondy M, the Clowny Gov, at last, you have made a right decision.
The Sri Lankan nation will be better off with your departure.
Not that the non atonal Hon. Governor of Central Bank of Sri Lanka loves Sri Lanka less but he loves his purse and perks more. That is why he waited ti.ll he was unceremoniously bundled out ( not polite to say he was kicked out )
Crimes by the previous regime should be condemned to eternal hell while those of the yahapalanaya can be conveniently swept under the carpet.
I agree with ‘concerned’ that this issue has been blown out of proportions.
We have a funny Parliament; there is a ruling coalition between the UNP and UPFA. A section of the UPFA has defied Party hierarchy and function as ‘joint opposition’. They do not subscribe to the official opposition which is the TNA.
The ruling coalition is ‘bribing’ its MP’s with empty Cabinet Portfolios and perks including large state sponsored staff, state sponsored vehicles. MP’s are ‘bribed’ with beneficial concessions including vehicle importations permits.
Corruption is rife amongst ruling Politicians and Public Officials being scapegoated for the follies of politicians.
Our Parliament is an ‘achcharu’ and a ‘sambaru’
Economic and social issues are continuing to mount.
Hypocrisy Mahendran amounts to fraud for a guy holding a post like the head of the Central Bank
In his own admission he claims that he does not seek reappointment as governor and yet he talks of the outcome of the COPE report.
The credibility of those referred to in this report is suspect for none of these individuals made any statements in connection with bond issue. Most likely they would have got a cut from the proceeds of the bond transaction along with the Ban of Ceylon Board of directors for having authorised the credit line for over several million rupees. Therefore a commission should investigate into all events leading to this fraudulent transaction
If Parliamentary Committee on Public Enterprises (COPE), says Mahendran misused his powers and led the country to loose the money, who will pay for it?
Will COPE, recovers all from him?
Or poor SL people has to pay for it over the TAXES?
What is the difference here?
Niyamasinhalaya,
If COPE finds that Mahendran was corrupt and earned unjust wealth from the bond auctions, he should be promptly prosecuted and jailed and whatever losses possible recovered from his wealth.
Unfortunately, in Yahapalanaya, it does not happen that way.
Mahendran’s file will go to Attorney General General’s office and it will sleep there forever.
I think we need foreign judges and a foreign Attorney General to pursue justice for the people. Forget Tamil tiger and Ranaviru prosecutions by foreign judges and foreign prosecutors.
We need foreign judges and foreign prosecutors to prosecute Sri Lankan Crocodiles who gulp the Nation’s wealth.