{"id":144960,"date":"2015-05-21T02:03:28","date_gmt":"2015-05-20T20:33:28","guid":{"rendered":"https:\/\/www.colombotelegraph.com\/?p=144960"},"modified":"2015-06-30T17:01:04","modified_gmt":"2015-06-30T11:31:04","slug":"bond-issue-arjuna-mahendran-cant-say-he-didnt-know-about-it","status":"publish","type":"post","link":"https:\/\/www.colombotelegraph.com\/index.php\/bond-issue-arjuna-mahendran-cant-say-he-didnt-know-about-it\/","title":{"rendered":"Bond Issue: Arjuna Mahendran Can&#8217;t Say He Didn&#8217;t Know About It"},"content":{"rendered":"<p>&#8220;I&#8217;ve just read <a href=\"https:\/\/www.colombotelegraph.com\/index.php\/full-text-of-ranils-bond-committee-report-ive-nothing-to-do-with-committee-findings-dr-waw\/\"><span style=\"text-decoration: underline;\">the report in full<\/span><\/a>. I&#8217;m appalled, according to the Monetary Law in this country the\u00a0Central Bank Governor\u00a0<span style=\"line-height: 1.5;\">can not say that he didn&#8217;t know about it&#8221; a Central Bank economist told <em>Colombo Telegraph<\/em>.<\/span><\/p>\n<div id=\"attachment_143084\" style=\"width: 162px\" class=\"wp-caption alignleft\"><a href=\"https:\/\/www.colombotelegraph.com\/wp-content\/uploads\/2015\/04\/Ranil4.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-143084\" class=\"size-full wp-image-143084\" src=\"https:\/\/www.colombotelegraph.com\/wp-content\/uploads\/2015\/04\/Ranil4.jpg\" alt=\"Prime Minister Ranil Wickremesinghe\" width=\"152\" height=\"172\" \/><\/a><p id=\"caption-attachment-143084\" class=\"wp-caption-text\">Prime Minister Ranil Wickremesinghe<\/p><\/div>\n<p>Commenting on the three-member committee report, appointed by Prime Minister Ranil Wickremesinghe to probe into the controversy that has emerged over the issuance of Treasury Bonds, the Central Bank economist said &#8220;this report and the way the &#8216;yahapalana&#8217; government deals with problems is not only ridiculous, but dangerous.&#8221;<\/p>\n<p><span style=\"line-height: 1.5;\">The first government-commissioned inquiry into the alleged corruption under the Sirisena\u00a0<\/span><span style=\"line-height: 1.5;\">government, concluded that &#8220;there was no evidence to the effect that the governor had direct participation with regard to the activities of the PDD and the Tender Board Committee.&#8221;<\/span><\/p>\n<p><span style=\"line-height: 1.5;\">The following sections of Monetary Law Act will shed light on Governor&#8217;s responsibility which cannot be passed on to any other:<\/span><\/p>\n<p>20. The Governor of the Central Bank shall be the principal representative of the bank and of the Monetary Board and shall in that capacity, but in accordance with policies or rules approved or made by the board, have authority.-<\/p>\n<p>(a) to represent the Central Bank and the board in all relations with other persons, including the Government and any body of persons, corporate or unincorporate, whether public or private, domestic, foreign, or international; and<\/p>\n<p>(b) to represent the Central Bank and the board in any legal proceedings either personally or through an attorney-at-law.<\/p>\n<p>21. Subject to and in accordance with such rules, if any, as may be made by the Monetary Board in that behalf, the Governor may delegate to any other officer of the bank his authority to represent the bank for any purpose mentioned in section 20, so however that the Governor shall remain and continue to be responsible to the board for and in respect of any act or thing done or omitted to be done by any such delegate.<\/p>\n<p>&#8220;So, he can&#8217;t say that he didn&#8217;t know about it!&#8221;\u00a0said the economist who did not wish to be identified. He is barred from officially talking to the media.<\/p>\n<p><strong>Related stories;<\/strong><\/p>\n<p><strong><span style=\"text-decoration: underline;\"><a href=\"https:\/\/www.colombotelegraph.com\/index.php\/full-text-of-ranils-bond-committee-report-ive-nothing-to-do-with-committee-findings-dr-waw\/\">Full Text Of Ranil\u2019s Bond Committee Report \u2013 I\u2019ve Nothing To Do With Committee Findings: Dr. WAW<\/a><\/span><\/strong><\/p>\n<p><strong><span style=\"text-decoration: underline;\"><a href=\"https:\/\/www.colombotelegraph.com\/index.php\/ranils-committee-clears-arjuna-mahendran\/\">Ranil\u2019s Committee Clears Arjuna Mahendran<\/a><\/span><\/strong><\/p>\n<p><strong><span style=\"text-decoration: underline;\"><a href=\"https:\/\/www.colombotelegraph.com\/?s=Arjuna+Mahendran&amp;x=11&amp;y=4\">Arjuna Mahendran and the bond issue<\/a><\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p> [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":143084,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,1,6969,2375],"tags":[],"class_list":["post-144960","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-colombotelegraph","category-news","category-popular-stories","category-stories"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.3 - 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