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CB receives bond report, will conduct forensic audits

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The Central Bank of Sri Lanka (CBSL) today said that the Secretary to the President, handed over a copy of the report of the Commission of Inquiry to Investigate, Inquire and Report on the Issuance of Treasury Bonds (COI) during the period from 1 st February 2015 to 31st March 2016 to the Governor, Central Bank of Sri Lanka entrusting the task of considering giving effect to the recommendations contained in the Report.

The Central Bank says it has already implemented some of the recommendations therein, while measures have already been initiated to implement most of the other recommendations.

“The Monetary Board has consulted the Attorney General, as appropriate, in the actions it has taken. It considers it appropriate to keep the public informed of the status of actions and initiatives that have or are being taken on the recommendations made in the Report and to generally improve transparency in the management of public debt and the Employees Provident Fund. The report is continuing to be studied and the Monetary Board will initiate further actions, as appropriate,” the bank said.

The Central Bank said it will initiate measures to carry out forensic audits carried out in relation to the issuance of Treasury
bonds during the 2008 to 2014 and the Treasury bond auctions held in March 2016

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