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CB Bond Debate: Sanctions imposed on primary dealer

(UDHAYAM, COLOMBO) – Deputy Minister of Public Enterprise Development Eran Wickramaratne says the Central Bank has taken steps to impose sanctions against the financial establishment that is allegedly involved in the bond controversy.

Speaking in Parliament during the debate on the COPE report compiled on the Bond controversy, Deputy Minister Wickramaratne said, the Secretary to the Prime Minister has also sent a letter to the World Bank (WB) pertaining to the matter.

The Deputy Minister said the Central Bank and its governor have imposed certain restrictions on the Brokering Company which states that it must limit its activities adding that in addition they have made it harder for that company to take money outside the country.

Deputy Minister Wickremeratne noted that the Central Bank governor has directed the Monetary Board to reinvent the process in which auctions are carried out.

Deputy Minister of Public Enterprise Development Eran Wickramaratne said the Attorney General has directed the Criminal Investigations Department to take prompt action pertaining to the COPE committee report.

The Deputy Minister said all members of the committee are of the unanimous view that the primary dealer in question must come under investigations, and if it is found guilty it must face due punishment.

He said all members of the committee agree that the former central bank governor and his administration must be held responsible for what happened.

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