Lankapage Logo Recent Top Stories
Go Home Home Serving the Sri Lankan community globally since 2000
go to

Leading News from Sri Lanka::

* Sri Lanka Opposition Leader questions the appointment of a Singapore citizen to head Central Bank
Fri, Mar 20, 2015, 01:30 pm SL Time, ColomboPage News Desk, Sri Lanka.

Mar 20, Colombo: The Opposition Leader of Sri Lanka MP Nimal Siripala de Silva Thursday moved an adjournment motion on the controversial Treasury bond issue in parliament.

Addressing the parliament, the Opposition Leader said the people have become deeply suspicious over the Rs. 10 billion Treasury bonds issued by the Central Bank last month.

At the Treasury Bond Auction held on 27 February, the 30-year bonds were to be issued at a market rate of 9.5 percent to raise Rs.1 billion. The issue was however closed at 12.5 percent with the Bank accepting Rs.10 billion from Rs. 20.7 billion bids received.

It has been alleged that "insider trading" has taken place in the transaction in which the Central Bank Governor Arjuna Mahendran's son-in-law's firm has been benefited.

MP de Silva said however there is no impartial investigation into the issue.

"We are concerned because so far there has been no attempt to investigate impartially."

The three-member committee appointed by the Prime Minister Ranil Wickremasinghe is led by an attorney-at-law with connections to the United National party, MP de Silva pointed out.

The Opposition Leader raised questions about the appointment of Arjuna Mahendran, who is a Singapore citizen, as the Governor of Central Bank.

"Arjuna Mahendran is a citizen of Singapore, and a Singapore national cannot obtain dual citizenship in another country. If that is the case on what basis did Arjuna Mahendran arrive here," MP de Silva questioned.

"We would like to know on what basis he is residing in Sri Lanka, whether it is a tourist visa or a work permit," he said.

The Opposition Leader said the Prime Minister has engaged in an act that undermines the honor and dignity of the country. "Is this good governance?" he asked.

He urged the government to cancel the controversial bonds which have been already issued and reiterated opposition's call to remove the Central Bank Governor until the investigation is completed.

The Central Bank said Governor Arjuna Mahendran will be on leave in Sri Lanka during the period of inquiry into the 30- Year Treasury Bond issuance.


ColomboPage - Recent 10 Stories
Parliamentary committee decides to take legal action against 59 unruly lawmakers
-- [44 minutes ago]
Sri Lanka Navy nabs a person with over 3 Kg of Kerala cannabis
-- [1 hour and 41 minutes ago]
Villagers take to the road against the killing of Ratgama businessmen
-- [1 hour and 47 minutes ago]
Sri Lanka's Commercial Bank ends 2018 with a solid performance
-- [2 hours ago]
Sri Lanka Telecom Group 2018 profits up by 25.58%
-- [2 hours ago]
Several roads in Colombo to be closed tomorrow for IRONMAN 70.3 Colombo
-- [4 hours ago]
President instructs to complete multi-purpose Uma Oya Development Project by August
Ruwan Wijewardene sworn-in as non-Cabinet Minister of Mass Media
Rathgama businessmen were killed and burned, 15 police officers transferred to ensure impartial investigation
Sri Lanka January tea exports up by 13% while production declines

Copyright © 2000, 2015 by (LLC) :
The news and other contents on ColomboPage are copyrighted property of, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.