A senior Government Minister on Monday declared that controversial Central Bank Governor Arjuna Mahendran, whose term will end this month, will not be replaced and he will continue to serve as the Governor for a second term.
Lakshman Kiriella – Minister
Minister of University Education and Highways, Lakshman Kiriella told a news conference in Colombo, “I am not responsible for his appointment, but I don’t think he will be removed.”
He added that although there were various allegations thrown at Mahendran, none of them have been proved so far, hence there was no need to remove him from the current position of Governor.
Both President Maithripala Sirisena and Prime Minister Ranil Wickremesinghe are scheduled to meet next week to discuss the future of Mahendran, who is currently embroiled in several bond scams, among other allegations.
Meanwhile, a group calling themselves the Global Sri Lankan Forum is collecting signatures to send out an online petition to President Sirisena urging him not to re-appoint Mahendran as the Governor of Central Bank.
The Anti Corruption Front, along with several other organisations have organised an event titled ‘Remove Arjuna Mahendran’ on June 15 at the Public Library in Colombo. The speakers at the event include Ulapane Sumangala Thera, Sarath Wijesuriya, Chandra Jayaratne, Dr. Nirmal Ranjith Dewasiri and Keerthi Tennakoon.
Funlover / June 13, 2016
I hate the smiling faces of Minister [Edited out] on websites. Of what value is Kiri’s statement about the removal or otherwise of the mercenary Bond Mahendran?
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Ben Hurling / June 14, 2016
Sir,
Is there any chance of removing Kiriella?
Would be much appreciated.
Cheers!
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Amarasiri / June 16, 2016
Ben Hurling
“Is there any chance of removing Kiriella?”
You mean Is there any chance of removing Buru-ella?
In the land full of Buruwos, they love Buru-Ellas.
The Average IQ of the Land is 79.
So use common sense to figure out.
National IQ Scores – Country Rankings
http://www.photius.com/rankings/national_iq_scores_country_ranks.html
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Paddy / June 14, 2016
Hullo Kiri. There were various allegations thrown at MR and his coterie, none of them have been proved so far. So do we go and make him President again?
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Laxmi / June 13, 2016
Civil Society activists must launch a massive campaign outside the Central Bank for the removal of the financial criminal and corrupt crook Arjuna Mahendran.
Mahendran has been pretending that opposition to him is due to the fact that he is a Tamil. But in fact Tamils consider him an insult to all educated honest Tamil professionals.
Mahendran does not MERIT the job as Mahendran does not have the qualifications for the job and he is in the position by virtue of being a crony of Ranil Wickramasinghe. The current UNHRC session should not be used as an excuse to keep Mahendran in the post.
This is an illustration of Tokenism and cronyism becasue qualified Tamils are systematically excluded from high govt. posts, and are absent in the Foreign Ministry due to racism and Cronyism in the Govt and University system and the Lack of MERIT based appointments of Tamil Professionals.
Merit-i.e. qualifications, skills and experience should be the basis of all appointments to Govt. Posts.
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Don Stanley / June 13, 2016
Kiriella who is clearly a clown says ” There were various allegations thrown at Mahendran, none of them have been proved so far, hence there was no need to remove him from the current position of Governor.”
None of the allegations against Mahendran have been proved because he is refusing to release information and blocking investigations.
How can the Central Bank investigate, headed by a corrupt crook who wants to delete information investigate the Panama Papers names, when Mahendran is a financial criminal?!
The Sri Lankan economy is crashing because of the corruption at the CB and not because of the EXPOSURE OF corruption in the CB.
Yahalapanaya arguments to cover up Cabraal’s and Mahendran’s criminality on the basis that exposure of their financial crimes will negatively impact the already collapsed Sri Lankan economy is JOKE!
This is how IMF and WOrld Bank think and they have legalized corruption and off shore Banking tax havens for corrupt elites in the Third World.
Good Governance activists must challenge this non-sense and Mahendran’s and the IMF’s BULLSHIT
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Lankan / June 13, 2016
“He added that although there were various allegations thrown at Mahendran, none of them have been proved so far, hence there was no need to remove him from the current position of Governor”
Nothing is ever proven in Sri Lanka…we all know that.
Hence the state of affairs in the country for the last so many decades.
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roger / June 13, 2016
RW is a stubborn arrogant man. He is not a good leader. He will try to keep his buddy happy at the cost of this country. That is what is important to him. But Sirisenana is likely to kick Mahendran out. Not only that if Yahapalanaya is to be true to its name, it should initiate investigations against this crook. Kiriella another useless ass, says nothing has been proven. He doesnot realize that nothing has been investigated, except the first bond issue by Rw’s pocket friends. Yahapalanaya is actually stinking..
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Burt / June 13, 2016
Everyone is innocent until proven otherwise. In a country where war criminals are walking free because no one has had the balls to hold them accountable it your going to remove people based on accusation even without proper evidence no one qualified will want a state job and the people will be lift with candidates that match the politicians.
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ismail / June 14, 2016
You are absolutely right.
War crminals who massacred innocent muslims in villages and mosues in the north and east, the war criminals who evicted 80,000 muslims with 24 hour notice are given proction by the western powers and their stooges in the current government of Sri Lanka.
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NAK / June 14, 2016
Burt,
you seem to have a very short or a selective memory.
Remember the 100 day ‘jahapalana’ government after the so called rainbow revolution of which the rainbow has now faded away.
The 100 day government was dissolved in a hurry because the COPE was just about to table a report on the first CB bond scam and none other than the pacha sira himself claimed so.
That report never been allowed to see the light of day would have ended the ‘jahapalnaya’ then and there and that’s why pacha sira came to the rescue. He too may have been rewarded for the kind gesture!
Later all those who testified to COPE were hounded by Mahendran.Now pacha sira says”by keeping mahendran may dirty the clean name of ‘ponil”
clean name my foot! He gets his cut through his main hench man malik the
none muslim.
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Helayeh maha kalu Johnson / June 14, 2016
You pathetic, blind goat you… !!
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Deshapremiya / June 15, 2016
Comrade Burt,
Except for the red brigade, no other politician have balls in the first place. They are all screw balls. This is a lawless country without any criminal justice system. what can we expect from any of these ball less politicians who had the proof and did nothing but to elect a Tsunami horra Raja+puksa as president?
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justice / June 14, 2016
The very fact that the Central Bank has refused to divulge details of Bond auctions on lame excuses, is proof that Mahendran who should have closely regulated and supervised was guilty of wrong doing.
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Burt / June 14, 2016
Central Bank refusing to divulge details of the bond auctions does not speak of the strength of CB or Mahendran but the weakness of the justice system in Sri Lanka. COPE an extension of the Executive Arm of the government seems to be helpless. In Sri Lanka the “joke” this was the same with the court ordering the military to corporate with the CID on the case of Lasantha and the military practically asking the court to take a hike with no consequence.
Should you laugh or cry looking at Sri Lanka?
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Colin / June 14, 2016
Mr.Kiriella is quite correct as there seems to be no concrete evidence
on the accusations made against the Governer so it will be quite unfair to remove him.
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Mathunny / June 14, 2016
RW likes AM because AM is the son of well known top old UNPer Charlie Mahendran. They are not typical thosai tamils. They are Colombo’s elite who studied in English and speak English at home and more than likely are not Hindus. Lot of this hate is because AM is TAMIL. Where were you yakkos and sarong johhnies when Cabral acted like a clown doing tango and line dancing with Namal baby wasting our money (MILLIONS OF DOLLARS) to try to get Commonwealth games to Hambayangeythota? Get a life man.
People like AM are born to rule like RW. So good luck telling RW to remove his brethren. Must be a joke. Also I never saw anyone telling GodKing MR to remove his cousin from Ambassadorship to US where he abused the entire system and was appointed for 2 terms and played money out and was a rather imbecilish man like his own Brother in law Ghostly Nishantha who played out Sri Lankan airlines. So chill man, AM is a smart man.
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Helayeh maha kalu Johnson / June 14, 2016
Studying in English at a supreme college in Colombo, being a part of the Colombo elite crowd/family and speak english at home are no longer considered posh and won’t make you stand out from the crowd you tamil “godeh” citizen…
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William / June 14, 2016
The chap is also Oxford educated, albeit a crook. Did you go to Harvard?
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Diogenes / June 14, 2016
Are you also imitating Mahinda Chintanaya? Then ” On your mark … Get set…”.!
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harry hatton / June 14, 2016
What is there to prove ?
We have as a governor of the central bank a man whose son in law Aloysius is a big government Bond dealer and also a greedy wheeler dealer.
He did this even during the Rajapakse regime and wined and dined with the likes of Namal and Cabral. ( a carbon copy of Nadesan the other seedy character in the sordid business community of Colombo-it was with Nadesan that Ranil W. went to see Rajapakse on the election night)
Now this man Aloysius is the best buddy of Ravi karunanayake and even sponsored an investment seminar for Sri Lanka in Singapore.He is in a super position, son in law of the governor of the Central Bank and buddy of Finance Minister who is also a big businessman!Apparently no conflict of interests ! This is how low our government is !
In which other country do you have a person making money on government Bonds so closely related to policy makers and decision makers concerning Bonds and financial matters !
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KA Sumanasekera / June 14, 2016
There you go….
What Kirra says is exactly what Batta Ranil does..
Now to all my dear Yahapalana suckers who have been pissed by the Bond Dealer Singapore Mahendran
Have a good day.And move on…
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ballah / June 14, 2016
any gona can say, bond hora (gona) can continue
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KA Sumanasekera / June 14, 2016
What I want to mention is the big ass Foreign Affairs Forum at Banda Hall in Colombo 7,last night.
Not one, but three PhD Doctors patted Bodhi Sira’s back to say HE is the best in front of Ambassadors, High Flyers and the Poodle Club members in Colombo.
Even the Dr who normally is on the Dalits side praised Sira as a Smart Patriot.
To me it sounded like Sira is half pregnant .
This was after Sira said, his first eighteen months have been all devoted to give us Democracy and Reconciliation. And get in to the good books of the West..
How cool..
No wonder Singapore Mahendran, let the Son in Law get away with the lot ,in the first two Yahapalana Bond issues.
And Batalanada PM forked ot Billions to make his Cabinet happy with Luxury Cars , Spending Money, and overseas junkets even for the girl friends and concubines.
The Security guards who look after my place in Wellala gardens, work 12 hours every day, 365 days a every to earn LKR 20,000 a month.
Some have 3 or 4 kiddies to feed.
I can not even figure out where they live or what they feed those kids.
Yahapalana suckers in Colombo spend LKR 500 for 25 Mls of Indian Red Label on the Rocks at Clubs and Hotels.
No wonder our Security guards are just skin and bone with sunken eyes.
When I see these Yahapalana Minsters , Deputies and even their MPs, I think what a f***** society do we live in ?.
But Bodhi Sira obviously is oblivious because he has been too busy for 18 months to please the Human Rights Boss and his Handlers,to give our Security guards Democracy.
I didn’t have to even mention our Dalits in the Bush…
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Ayesha Arambepola / June 14, 2016
I do not condone the financial crimes of Arjuna Mahenddran and he should be accountable for what he did during his tenure as the Governor of CBSL. What surprises me is – when the previous governor Ajith N Cabraal committed serious financial crimes and wasted money, there were hardly any groups condemned him or his actions. May be the situation is different now and they have awoken now. God bless Mother Lanka
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Burt / June 16, 2016
What is the crime that everyone is harping about? There is no laws that say CB cannot make placement of bonds without auctions. There is nothing to say that family members are not allowed to take part in CB transactions. Insider information does not even come to play if this was a private placement. So what is the crime?
This might be unethical and stink but there is nothing illegal. Shouldn’t you jokers put pressure on the govt to pass laws after buying recycle paper from Greece? Clowns should get their acts together before accusing others of crimes.
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THUMPANE GAMAYA / June 14, 2016
I thought President is Maithreepala and not this joker?
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KA Sumanasekera / June 14, 2016
I thought it is Poortens’ Turf…
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pattapal / June 14, 2016
In a Country, where every Politician is corrupt, and the few who pretend not to be corrupt, don’t even understand the word, we have an APPOINTED official by the PM, who gave up a lucrative job, and who could return to an even more lucrative job overseas, being hounded out of office for being CORRUPT!
Frankly I don’t know why someone who can earn Rs500M a year, would take this job, except for the prestige factor, and if he knew the grief he would encounter in retrospect would surely have refused it. NO OTHER SRI LANKAN IN THIS COUNTRY CAN COMMAND SUCH AN INCOME IN A FOREIGN BANK. Not one of the 225 MPs could even get a job as a security guard in a foreign Bank.
As an international Banker (India’s Governor was also an international Banker), he is probably the ONLY person in Sri Lanka who is in a job for which he is qualified. I challenge the reader to name anyone else, least of all any of the 225 in parliament as qualified to be even a people’s representative!(to be a servant of the people)
While allegations abound, nothing is proved, and all have been dealt with without any hint of impropriety, and any non-disclosure to COPE is merely due to the need for confidentiality in not disclosing Monetary Policy to third parties, which will unfavorably impact on SL ability to borrow at lower interest rates. It is as simple as that.
With regard to him being linked to his son-in-laws dealings, I will only say that it is unfortunate that his daughter married the boy, who made a lot of money during the Rajapakse administration, including in the BOND issues, that were NOT transparent then, as they were NOT auctioned, but price fixed forcing Govt. institutions to subscribe at PRESCRIBED RATES and not market rates that would evolve in auctions.
COPE does not realize the need for confidentiality/unpredictability/mix of maturity dates/ changes to requirements on short notice/ taking advantage of short term international interest rate movements to benefit Sri Lanka.
International high finance is definitely NOT for the faint hearted. Anyone working at the CB or retired has never taken a personal risk, so they fail to understand what it really means, and the high stakes involved in Bond Auctions and sudden need for big changes in funds raised, and risks attached, which are just too much to answer to COPE, so they err on the safe side, at huge cost to SL in final debt burden.This is another reason that CB Governors don’t come from the ranks of the CB staffers.
There is nothing he can do about the fact that his son in law may own the largest non Bank Bond Trading Company in Sri Lanka, as that would have been the case either way, even if I was the Governor. So when the next set of accounts discloses he made Rs10B in bond trading, you will shout corruption, I will say reward for high risk bets his CEO took on the economy, and none of the pundits in Sri Lanka can understand that. Perhaps no one understands the huge losses and huge profits you can make on betting on interest and exchange rates! The bigger you are the bigger risk you can take, and the more money you can make. You can lose big like ENTRUST and go bankrupt, too, if you make the wrong bet!
Sri Lanka is a corrupt state, where even a new Govt. pledging good Governance, has as its political leaders except the PM, all looking at ways to personally enrich themselves. Why are the intelligent masses NOT pointing a finger at the obviously corrupt deals these people continue to make, instead of attacking the easy target, NON politician to whom you will never go, after your allegations, for help, when any of the others may be useful to you in getting whatever it is you want! Please think about that logic!
As for blocking investigations, ask investigative journalists to look at the real reasons, as all the Media reporting is one sided, and people come to conclusions.
Just imagine how satisfied the corrupt politicians are that CB Governor is the target of Jayaratne and Tennekoon, they have nothing to lose even if they are right or wrong. As for naming the real crooks, they have all to lose, their gravy train keeping them alive. They must get out of the frog in the well mentality, and direct their ire where it is most needed, not the easiest punching bag, the only fish in the well!
Sri Lanka’s recent slide into economic crisis has nothing to do with Monetary Policy as managed by the CB and dependent on International Markets, but Fiscal Policy that has shown flip flops, lack of direction, uncertainty and costly Government spending mismanagement(read corruption).
THE MORAL IS – “GO AFTER THE ROGUE WHO YOU MAY WANT HELP FROM, NOT THE ROGUE WHO YOU CAN FORGET ABOUT ONCE YOU HAVE CRAPPED ON HIM, BECAUSE HE IS OF NO USE TO YOU!”
I personally believe that this distraction of using the Governor as the root of all evil, has prevented objective reporting, to enlighten us the public to the true massacre of the innocents (public) that take place daily, by our elected officials! We can stop it if we think National Interest and NOT personal!
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William / June 14, 2016
There are plenty of Sri Lankans who are in far more senior positions than him in the industry worldwide. The chap wasn’t that senior at HSBC as head of private banking in singapore (there are a handful of Sri Lankans in that organization who were more senior than him) not at NBD emirates, and certainly wasnt making anywhere close to even 100mn a year, leave alone 500mn. I dont know what you are smoking but I would like some of it.
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justice / June 15, 2016
pattapal,
Your lengthy harangue proves that Central Bank is now a Corrupt Institution.
The head along with those who colluded with him in the Bond Auctions to enrich the son-in-law must be removed.
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Madhura / June 14, 2016
@ CT is that what the minister said? Or did he say that it is his opinion that there is no need to remove the governor as the investigations has proved he is not guilty of the charges. He also mentions about a court ruling.
I am not agreeing or disagreeing with the minister. But I get the feeling I am not getting facts as it is from CT. We want to know what the hell is really going on.
The following is what i read in the DM.
The Minister told a media briefing that his personal opinion was that Mr. Mahendran should be re-appointed to the post. “The Supreme Courts has given Mr Mahendran a good character certificate by acquitting him of all charges and therefore why make a fuss over it,” he questioned. – See more at: http://www.dailymirror.lk/110910/Mahendran-should-continue-as-CB-Governor-Kiriella#sthash.x1gmR9Lw.dpuf
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Piranha / June 14, 2016
Has Mahendran’s proof of guilt been established? No!
So, until that is done the man should be allowed to carry on as governor.
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Mallaiyuran / June 14, 2016
The group is organizing to remove Mahendran. So far they have not even tried an appeal to the case they lost in Supreme Court. The activist are no one else but group Sinhala Racist team. That is just another Sinhala Only legislation. They have so far not asked anything to do for Sri Lankan airline losses. Yesterday Tamil news reported further Lankawe’s share in the Port City Land is being sold to China to settle Ranil’s election bill. The Chinese company who insisted on the loss for the delay of the Development cited Ranil used a false claim to win the election saying he will revese the agreement while it was being a 100% secured deal for China.
When Yahapalanaya Goverment came to power they showed puppet Sripavan, Mahendran and Illangakoon to throw bones to International Community to postpone the OISL report being submitted to UNHRC. The Appa Diplomacy won the game. Latter Illangakoon was removed with the acquisition in the Thajudeen murder case. Mahendran is being tried in bond issue. Puppet Sripavan’s secrets will surface when appropriate time; when Ranil or New King does not want him. In any case OISL report was delayed as needed and the 42 war criminals names were removed from the report using the these three eye washing appointments. But the regular jobs for normal citizen in North-East are not coming forth, irrelevant of any Bond issue or Thajudeen murder.
There was a big fraud took place in Central Bank. The Bank had serious disability to raise fund because of the mismanagement Ajith Nivard carried out. That disability was used to rob the money out of it further. Central Bank case is a classic daily life a Tamil citizen. Tamils, whose jobs were robbed by Sinhala only and Standardization now being used in every angle to plug out anything left with them, even like Yahapalanaya government possing their lands those no use even for army.
Those who benefited by the bond issue is only UNP goons. There is not proper legal action has been filed. There is no order to freeze Central Bank documents. They are held to be destroyed like the robbery documents set off in fire in Kosgama, Salawa.
Mahendran has not been accused anything like this in his previous jobs. His case is not proven so far. Scapegoat inventing Sihala Intellectual frauds who wants to save their master invent cases like this. It is the Yahapalanaya Goverment has to take the responsibility to the robbery took place in Central Bank.
Mahendran is a shameless case. Mahendran can not resign and save his name. He has become a Hakeem Phenomena like in M/s Cooray’s case. He took a job at Yahapalanaya and has become the case of “Caught a Tartar”. Rest of his life he has to help UNP goons to rob the Central Bank or go to Jail.
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Don Juan / June 15, 2016
[Edited out]
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SB / June 15, 2016
A s things go RW and his ponna friends in government he is protecting is because they find the mula to fund his life.Kirielle and others in the UNP better watchout. the coalition won in 2015 because of the UNP vote. UNper ‘s are sick of RW’s inablity to cope with an incompetant President and his own rank and file who are robbing to earn what they lost for the past20 years in the oppersition.Most UNPer are sick of this situation and prefer to wait till RW is removed to form the nextUNP govt.
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Lydia / June 16, 2016
William.
Get your facts together b4 you write trash.
Arjuna Mahendran has held top positions in international banks from Hongkong, Singapore & Dubai.
In Hongkong he was no 2 of their Private Bank.
In Singapore he had the TOP slot as he did at Dubai at ENDB.
He is an economist by profession having graduated from Balliol College inOxford & he has a Masters Degree from The London School of Economics, where he was one of the first batch of students chosen for the very prestigious Presidents Scholars by the late President J R Jayawatdene.
Up until then he was working at the Central Bank.
Soon after he graduated from Oxford Univetsity he worked for the Mahaweli Authority under the late Minister Gamini Dissanayake.
Is there anything else you want to know you , moron?
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