CB Governor Tough on Corrupt Officers & Brought Two more Primary Dealers Under Probe

Followed by misdeeds of Perpetual Treasuries Ltd exposure, the Central Bank ordered internal investigations into the dealings of primary dealers. Subsequently Perpetual Treasuries Ltd and Pan Asia Bank, whose transactions have been suspended. Already four officers have been interdicted. Disciplinary inquiries against them would begin shortly, he said. “If anyone was found guilty during the ongoing investigations, legal action would be taken against such person disregarding his or her status,” Dr. Commaraswamy said. However, the Central Bank was continuing its internal investigations without interruption. The Central Bank is currently investigating into some suspicious dealings of two more primary dealers connected to the Central Bank Bond issues.

The Monetary Board would shortly make an announcement about the future action to be taken against them. Steps were being taken to begin secondary market transactions soon. Meetings of the investment committee were being held daily under the chairmanship of a Deputy Director,” the Central Bank Governor said.

“This Committee is taking vital decisions to strengthen the country’s economy by providing investment guidance,” he added. Coomaraswamy said the guidance and directions offered by the President and the Prime Minister calling for transparency in taking decisions for public welfare were a source of great strength to the Central Bank.