Sri Lankan central bank launches sweeping reforms in wake of bond scandal

Central Bank of Sri Lanka headquarters
The Central Bank of Sri Lanka is still dealing with the fallout of a bond mis-selling scandal

The Central Bank of Sri Lanka has implemented a sweeping programme of change to the way it handles debt management operations and trading by its employee pension fund, following a scandal over malpractice around bond trades.

The bank has created a new primary bond issuance system, toughened controls on its trading in the secondary market, taken a series of measures to boost the transparency of its operations, and cracked down on the firms and individuals involved in the trading scandal.

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