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Wednesday, 22 February 2017 - 18:32
Existing Auction System Bond Issue To Be Replaced
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Central Bank governor Dr. Indrajith Coomaraswamy was testified before the Presidential Commission to probe into the Central Bank Bond scam for the second day today.

He educated the Commission on the process of a bond issue and told the Commission that there were a few perpetrators who were involved in the bond scam that remained in service even after he assumed duties.

He also said that the existing auction system of bond issue will be replaced soon.

Meanwhile, Perpetual Treasuries Company was permitted to appear before the Presidential Commission which is probing the Central Bank bond scam.

The permission was granted at a request by the lawyers appearing for the company.

At this juncture, Commissioners recommended obtaining Attorney General’s advice with regard to the request.

Later, the hearing was adjourned for 5 minutes.

Once the Attorney General was consulted, the Commissioners who recommenced the hearings stated that Perpetual Treasuries can appear before the Commission under the 16th Section of the Presidential Commission Act.

Meanwhile, Finance Ministry Secretary is scheduled to be testified before the Commission tomorrow.

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