Perpetual Treasuries suspension extended for 6-months: central bank
ECONOMYNEXT- The Central Bank of Sri Lanka said the monetary board has extended the suspention of activities of Perpetual Treasuries Limited for another six months effective from January 05.
The central bank said that it extended the suspension under the Registered Stock and Securities Ordinance and the Local Treasury Bills Ordinance, in order to continue investigations into the country’s largest ever securities scam.
In November, six foreign forensic audits commissioned to investigate the bond scam and allegations of earlier misconduct in primary bond auctions and the managing of the Employees’ Provident Fund were completed.
However, the Attorney General has blocked the publishing of the reports as they may be used in future legal action against wrongdoers. (Colombo/Jan06/2019)
Economic Intelligence Unit of the Ceylon Chamber of Commerce
Jehan Perera - Executive Director National Peace Council