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Saturday, 03 October 2015 - 11:57
Who to endorse banknotes?
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In response to an inquiry at a media briefing held yesterday in Colombo, the Minister of Finance Ravi Karunanayke stated that any possible issues which will arise out of the Central Bank’s endorsing banknotes since the Central Bank is not under the purview of the Financial Ministry, will be managed immediately.

Participating in the political discussion ‘Balaya’ telecast by Hiru TV, JVP MP Sunil Handunnetti stated that there is an issue regarding the Central Bank’s endorsement of banknotes sine the Central Bank is no longer operating under the purview of the Finance Ministry.

The Legal provisions regarding the endorsement of banknotes are issued under the Monetary Law Act.  According to the Act every bank note issued should be endorsed by the subject minister as well as the Central Bank Governor. However the Finance Minister Ravi Karunanayake said at the media conference that the relevant procedures are taking place under proper coordination.

 

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