Mahendran, a Singapore national of Sri Lankan origin appointed as the Governor following the election victory of President Maithripala Sirisena in January 2015.
Mahendran’s tenure is expiring at the end of June. He was accused last year of leaking inside information to his son-in-law’s firm, allegedly allowing it to make millions of dollars in profits from a central bank bond auction.
Civil society groups, trade unions, Joint opposition politicians and some SLFP Ministers have requested the President not to extend the term of Arjuna Mahendran.
A ruling party committee cleared him of direct involvement but called for a more thorough investigation which has yet to be held.
Until his name is cleared by the Committee on Public Enterprises (COPE), the Governor of the Central Bank Arjuna Mahendran won’t seek extension of his term, he informed the Monetary Board
