The Central Bank of Sri Lanka (CBSL) has written to Colombo Telegraph offering a clarification on the news story published yesterday (March 27) titled ‘President Stops Gazette On Transferring Central Bank From Ranil To Mangala,’ where it was mentioned that State Minister Dr. Harsha De Silva had summoned the Monetary Board against established procedure.
The Director, Communications, CBSL states that De Silva had only ‘convened a meeting of stakeholders to resolve a longstanding issue’ and that two independent members of the Monetary Board had wanted to take part in the discussion. (see full text of the ‘clarification’ below).
However a Central Bank official who wished to remain anonymous told Colombo Telegraph ‘they have been caught with their pants down. The two independent members had no business to participate in a meeting of stakeholders of a controversial national payments platform.’
‘It means that those Monetary Board members have no free will when the matter comes up at the Board. Another conflict of interest like the infamous bond scam’ he added, observing that ‘Board members should know their governance (protocols) when they participate in such meetings; they are like Supreme Court judges who are not expected to dine and wine with the accused or lawyers (who) appear before them.’
Related stories:
President Stops Gazette On Transferring Central Bank From Ranil To Mangala
Had Enough / March 28, 2018
The consensus is to push ahead with his preference for the Indian company? Surely the CB Communications Director is a spin doctor and a henchman of Yahapalanaya that puts Goebbels to shame!
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Don Stanley / March 29, 2018
Foreign interests in Sri Lanka’s Big Data and data platforms are being promoted by Bondscam Rail Wickramasinghe hwhose so called Economic Policy is written in Washington DC to benefit the global 1 percent and the strategic security interests of the Superpower…
The National Payment platform for ICTA Survey Department data operations contracted to Trimble and Co. Biometric info. collection, Marin info to infamous Avant Guard under US citizen Gota’s beneficence – all this is for the benefit of foreign interests trying to secure access to Sri Lanka’s BIG DATA and info. to stymie and monitor the Chinese invasion if Lanka!
Meanwhile, Bondscam Ranil, whose greed for power is sickening is selling all national assets and DATA to foreigners to get money to stay in power and BUY corrupt politicians to back him.. Corrupt Money politics is the name of the game and there is nothing to chose between Mahinda Jarapassa and RW who protect each other in order to stay in power..
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Kalupahana / March 29, 2018
CT Editors, good work on this!
Question is who is behind ICTA and the concerted push to privatize the Sri lanka National Payment Platform ( which should be under CB), as well as, the Survey Dept to Trimble and Co.? These are linked attempts at privatization of Lankan Land DATA and Financial DATA platforms and pushed by the same foreign surveillance and security interests.
Today In India there is a huge debate on DATA SECURITY and PROTECTION and cases against the Ardha Card – biometrics- and surveillance of citizens by linking various Data platforms..
Who will protect health, privacy, financial, land Data of the citizens of Lanka when Bondscam Ranil and Harsha his puppet.are selling it off and privatizing data platforms which when integrated generated BIG DATA on Lanka?
Who are the local and foreign interests behind this operation – behind Bondscam Ranil and Harsha and Malik and Marapona who was also involved in the Avante Guard Marine Date and information systems Case?
Bi-partisan (UNP adn SLPP) corruption and hate crimes are two sides of the same coin to Divide, Delude, Distract and Rule the masses.
Both UNP and SLFP politicians – Pathala Champika Ranawaka – is a good example – protect the BBS and Mahasohon Balakaya. UNP, SLFP and SLPP Politicians are a corrupt caste and this is the real meaning of the UNITY GOVERNMENT for Jara-palanaya!
The name of the game is corruption, money politics and Hate crimes protection Racket to distract us all. There is no point is asking if SLPP or UNP Ranil or MR are responsible for attacks on Muslims – they are Partners in the same crime as social scientists who do structural analysis would say.
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chiv / March 28, 2018
When you listen to the govt officials of Lanka it appears as though they follow the protocols/bureaucratic bull shit to the core, but actually what you experience is another story.Report to work at 10 am have a tea break at 11 followed by lunch from 12 to 1 pm, then tea at 3 pm and go home at 4 pm, In between gossiping ,internal politics reading news paper, watching tv, attending phone calls, social media….etc.They also go on strike for better salary,perks and other benefits, At the time of retirement (official) they are rewarded with monthly pension for their services.
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Sam Fernando / March 28, 2018
There are also horu within Cetral Bank. They had been there before former CBG was elected.
I believe, those men would be the resistence to any reforms.
Almost every structure in higher institutions across the country are highly corrupted. Ballige putha led regime looted it to the core and those days he let any man to take their own decisions without thinking twice. That Kabral should be hung by his balls to have run IT TO it to all depths, by the time they passed it to the current.
We perfectly got to know CENTRAL bank had no own legal body to take decisions under Rajpakashe regime. They doctored statistics and passed it to the world so that the bunch can see it otherway around. If things should have gone that nice, why should 2018 and 2019, the current men should pay that muc as interst.
Looters should be hung by their balls to feel us better today.
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Anuruddha / April 2, 2018
Very true
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M.Basnayake / March 28, 2018
Look CT, if you guys make a mistake in your reporting, then apologize without adding an anonymous sources input into this article.
If there is any evidence of corruption, please present it.
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Strategist / March 28, 2018
Harsha, let’s at least maintain Central Bank’s independence. It is important to leave them alone. Political interference is the last thing they need now. Look at the Non Performing Assets (NPA) crisis in India because politicians did not let the RBI get on with their work.
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Amrit Muttukumaru / March 28, 2018
CBSL CLARIFICATION: SOME QUESTIONS FOR GOVERNOR INDRAJIT
1) How could a “CONSENSUS” be reached “on the way forward” for a “National Payments Platform” at the meeting “chaired” by Dr. Harsha de Silva – State Minister of National Policies and Economic Affairs (under which CBSL falls) when purportedly only “Two independent members” were present out of 5 Monetary Board (MB) members?
2) Why did only “Two independent members” evince an interest in attending the meeting?
3) How could any MB member be ‘independent’ if they attended a meeting “convened” and “chaired” by the State Minister ?
4) CBSL Director, Communications refers to “stakeholders”. Is the MB a ‘stakeholder’ or ‘regulator’ or both?
5) In the context of CBSL Governor, Dr. Indrajit Coomaraswamy also being Chairman, Monetary Board of Sri Lanka (i) was he aware of the meeting “convened” by the State Minister? (ii) if aware, did he advise the MB members not to attend? (iii) will he confirm (a) that only “Two independent members” attended? (b) the identity of the “stakeholders” who attended? (c) the venue of the meeting?
AMRIT MUTTUKUMARU
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Iqbal / March 28, 2018
The recent statistics CBSL submitted to IMF/WB had to be withdrawn because all figures screwed-up, Indrajit, when he took over from robber/fugitive Mahnendran, assured My3 that with his macroeconomics skills and acumen will save the institution from collapsing – then how did the statistics go so wrong, Mr. Indrajit over to you? even Cabraal didn’t allow CBSL to stoop to this low.
We have yet to see Governor’s of the calibre of Dr. Warnasena Rasaputra.
It is better to look for a foreigner at the London School of Economics – even the BoE top man is a Canadian (but don’t involve Ranil even if you’e hiring a janitor)
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Shyam / March 28, 2018
Wow, Harsha De Silva must think that citizens are donkeys. Can ‘independent members’ of a Board, at the Central Bank no less, “express interest” in attending meetings convened by a minister? Can member of Boards nominate themselves and just attend meetings? Just wow…. I must ‘express my interest’ to attend a cabinet meeting one of these days…
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mudalali / March 28, 2018
the comparison of independant directors to judges is inappropriate. this is a practical issue of digitising critical infrastructure in the economy, not evaluating a crime. the anonymous central banker shows his turf mentality by calling it a ‘controversial’ payments platform. typical obfuscation by bureaucrats which has held the country back for decades and continues to do so. now they are trying to blame the Indians. the last resort for Lankan ‘patriots’
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Upul Arunajith / March 29, 2018
Politicians mandate is to have the right professionals to fo the job and properly monotor the procesz. When the right professions are appointed and they be given the right authority and held accountable for the outcome then the process will work. Unfortunayely thougj in SL we dont have the right fit. Harsha Dr Silva is a theoretical Drvrlopment Economist with no direction what so ever. Whay has he done with his Phd in Devrlopment Economics for the padt three years. Sweet bugger all. Now is he the one who is going to tell the CB monitory boad how to govern its affairs?. I see disaster. Petiod.
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Good Sense / March 29, 2018
Naturally the so called clarification by the Director Communication is only coat of white paint to give a good image of Dr. Harsha De Silva. Every one can see that. What is important is to note that while the ICTA should be an effective partner, mover in the process of digitization of the economy, it should not barge in and be a domino forcing their own solutions down the gullets of implementing and regulatory agencies. Insiders tell me that financial governance of ICTA is in a parlous state. If the ICTA was any good it should be in a position to sell its point of view effectively to the stake holders and win their hearts. They tried to to do that with the National Identity Card and tried to print a special card for the poor. All these government agencies must act as a team, playing their role effectively, to provide a good public service.
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peter / March 29, 2018
Central bank has given two telephone numbers to contact them on issues on Swarnamal finance problems , but those ringing only no one is there to answer
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Kalupahana / March 29, 2018
CT Editors, good work on this!
Question is who is behind ICTA and the concerted push to privatize the Sri lanka National Payment Platform ( which should be under CB), as well as, the Survey Dept to Trimble and Co.? These are linked attempts at privatization of Lankan Land DATA and Financial DATA platforms and pushed by the same foreign surveillance and security interests.
Today In India there is a huge debate on DATA SECURITY and PROTECTION and cases against the Ardha Card – biometrics- and surveillance of citizens by linking various Data platforms..
Who will protect health, privacy, financial, land Data of the citizens of Lanka when Bondscam Ranil and Harsha his puppet.are selling it off and privatizing data platforms which when integrated generated BIG DATA on Lanka?
Who are the local and foreign interests behind this operation – behind Bondscam Ranil and Harsha and Malik and Marapona who was also involved in the Avante Guard Marine Date and information systems Case?
Bi-partisan (UNP adn SLPP) corruption and hate crimes are two sides of the same coin to Divide, Delude, Distract and Rule the masses.
Both UNP and SLFP politicians – Pathala Champika Ranawaka – is a good example – protect the BBS and Mahasohon Balakaya. UNP, SLFP and SLPP Politicians are a corrupt caste and this is the real meaning of the UNITY GOVERNMENT for Jara-palanaya!
The name of the game is corruption, money politics and Hate crimes protection Racket to distract us all. There is no point is asking if SLPP or UNP Ranil or MR are responsible for attacks on Muslims – they are Partners in the same crime as social scientists who do structural analysis would say.
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Percy / March 29, 2018
The CB statement says that the meeting was convened to progress the digitalisation of the economy. Has this been discussed in Parliament? What is india’s Role in this. Who are the selected stakeholders who were involved in the discussion. ? The CB statement raises more questions than answers. Sounds like a cloak and dagger operation on which the spotlight should be centred.
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