Nivard Cabraal questioned over hedging deal

Ajith Nivad Cabraal

The Financial Crime Investigation Division (FCID) is currently recording a statement from former Central Bank Governor Ajith Nivard Cabraal in connection with the controversial hedging deal, police spokesman ASP Ruwan Gunasekara said.

The government had reportedly lost over $ 200 million due to the infamous deal.

Cabraal was the Founder Chairman of the Corporate Governance Committee which developed the Code of Best Practice on Corporate Governance in Sri Lanka. He served as the President of the Business Recovery and Insolvency Practitioners Association of Sri Lanka. He is also a former Chairman of the Institute of Chartered Accountants of Sri Lanka (ICASL), and President of South Asian Federation of Accountants and the St. Peter’s College Old Boys Union.

Cabraal has also served as a Member of the Boards of the Strategic Enterprises Management Agency (SEMA), of the Securities and Exchange Commission, National Institute of Business Management, Post Graduate Institute of Management and the University of Moratuwa.

Earlier, the FCID has also recorded a statement from the Director General of the Divi Neguma Project, with respect to the hedging deal.

(Ada Derana)