Sri Lanka Central Bank governor questioned by Bribery Commission

COLOMBO (EconomyNext) – Sri Lanka’s bribery commission Thursday questioned Central Bank governor Arjuna Mahendran who has been implicated in alleged insider dealing in a bond sale.

An official at the Commission to Investigate Allegations of Bribery or Corruption said a statement was recorded from Mahendran.

Earlier Sri Lankan governance activists had petitioned the Supreme Court for independent probe into alleged insider dealing in the bond sale.

Governor Mahendan, his son-in-law Arjuna Aloysius, Perpetual Treasuries owned by the Aloysius’s family group and officials of the Central Bank and Policy Planning Ministry secretary, had been named as respondents.
The controversy revolves around a bond sale on February 27, the public debt department of the Central Bank offered one billion rupees in 30-year bonds, but accepted 10 times the volume, sending the yield up and raising the government’s interest costs.

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