Sri Lanka’s Mahendran cleared of direct involvement in bond scandal

Arjuna Mahendran, governor, Bank of Sri Lanka

An investigation into possible insider dealing during a bond auction by the Central Bank of Sri Lanka (CBSL) has found governor Arjuna Mahendran was not directly involved, the central bank confirmed today.

The Sri Lankan government yesterday published the findings of a committee formed to investigate irregularities in an auction of 30-year bonds handled by the CBSL. Although the report said Mahendran was not directly responsible, it did find current scrutiny of the central bank's operations to b

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