Sri Lanka CB Governor not to seek re-appointment until probe ends

ECONOMYNEXT – Sri Lanka’s embattled Central Bank Governor Arjuna Mahendran will not seek a re-appointment when his term ends this month, until a parliamentary probe over bond sales are complete.

The central bank said in a statement the Mahendran had informed the governing board of the agency at a meeting on Friday that he will not seek a re-appointment until a "Parliamentary Committee on Public Enterprises makes its findings known on issues related to the issuance of Treasury Bonds in the years 2015 and 2016."

The Governor is under fire over alleged bond auctioning rigging involving a firm owned by his son-in-law.

There has been suggestions by the current administration that ‘an acting governor’ will be appointed until the parliamentary probe ends.

Activists have said that there is no provision to appoint an acting governor in the governing law of the agency. (Colombo/June24/2016)

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