Presidential Commission to look into past Central Bank functions | Daily News


Presidential Commission to look into past Central Bank functions

President Gotabaya Rajapaksa has signified his approval for a Presidential Commission of Inquiry to delve into violation in the administration, management and functions of the Central Bank including fraudulent transactions that had been entered into by the government or public officials during the last few years.

The Commission which will be headed by retired Supreme Court judge K.T. Chitrasiri has been tasked with three months to furnish their report and recommendations.

In an Extra-ordinary Gazette Notification issued on Thursday evening, President Gotabaya Rajapaksa notes that the Commission must investigate if there had been non-compliance or disregard of procedures established by law including agreements or contracts with the Central Bank.

The Commission has been tasked to look into irregularities and malpractices in connection with ETI finance which led the CB intervention towards the sale of the finance companies assets. These assets included Swarnamahal, EAP broadcasting, EAP films and theatres, Hotel Sapphire, Swarnamahal Jewellers and other immovable assets.

This also includes improper or irregular or discriminatory selling the establishment including the retaining of optimum price for the benefit of the public, whether individuals were involved in unlawful acts and if there had been a misuse of abuse of power, interference, fraud, malpractice, nepotism or any act of mission.

The Commission comprises of retired Solicitor General Suhada Gamalath and senior banker D.M.Gunasekara. The Committee has been asked to revert within three months of the date of the Commission including the findings of its inquiries, investigation and their recommendations henceforth.



Visit Sri Lanka's Largest online shop. Over 125,000 unique categories such as Fresh Flowers, Cakes, Food, Jewllery, Childrens Toys and other Sri Lankan e-commerce categories. Low delivery cost to most cities here and free delivery in Colombo.

Add new comment