Sri Lankan central bank launches sweeping reforms in wake of bond scandal
Central bank tightens controls after investigation uncovers malpractice
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.
Many
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