Central Bank says cannot make comment on bond, EPF, irregularities until audit
Jan 16, 2018 13:53 PM GMT+0530 | 0 Comment(s)
ECONOMYNEXT – Sri Lanka’s central bank said it cannot make comments on alleged frauds at the Employees Provident Fund and bond sales before 2015 until a forensic audit is completed by a third party.
It said in a statement that there has been a call for an immediate statement from the Central Bank on whether there have been any irregularities in the issuing of government securities during the period 2008-2014.
It referred to the statement issued by the Monetary Board of the Central Bank on 11th January 2018 where a forensic audit was announced.
“The audit will focus on government securities and EPF operations during the period 2008-2014. This would be conducted by an external party. It is not appropriate to make any statement in this regard prior to the conclusion of the forensic audit.”
A presidential commission probing rigged bond sales conducted by the central bank under then Governor Arjuna Mahendran in 2015 recently recommended a forensic audit on sales before 2015.
(COLOMBO, January 16, 2018)