Transparency International Sri Lanka (TISL) is deeply disturbed by the rising concerns raised over controversial deals made in bond markets in recent weeks by a firm connected to the son-in-law of the present Governor of the Central Bank.
TISL welcomes the steps taken by both the President and the Prime Minister in appointing two separate committees to probe into the allegations. TISL is of the view that there is a clear case of insider dealing which is a form of corruption, which can only be unearthed with a credible investigation. The public has a right to know who were exactly involved in the questionable insider dealing.
TISL is of the view that it is only right that the Governor temporarily steps down from his position to ensure the space for an independent probe and that the faith placed upon the Central Bank by the public is respected. The government has a responsibility to safeguard the highest level of integrity in the Central Bank, which is the main regulator in the country.
TISL recalls the controversies involving the Central Bank during the previous Government, particularly the previous Governor of the Central Bank and stresses the need to move towards a more credible Central Bank.
*Transparency International Sri Lanka press release