Central Bank of Sri Lanka
Sri Lanka must be more competitive, central bank argues
Annual report for 2016 proposes host of reforms for improving Sri Lanka’s global competitiveness, warning country missed “many” opportunities to become developed nation
Sri Lankan central bank rejects finance minister’s accusation
Bank says it followed existing law in issuing and re-issuing bonds
Sri Lankan finance minister accuses former governor of fraud
Ex-president and former central bank governor are both accused of “fraudulent management of public debt”
Sri Lankan governor appears before inquiry into alleged fraud
Critics allege malpractice involving firm owned by former governor’s son-in-law; local media report officials also worried by severe drought
Fresh investigations into Sri Lankan bond scandal launched
Central bank and Sri Lankan president both investigating possible malpractice around bond sales to the central bank pension fund
Sri Lankan government to restructure central bank
Central bank is to be restructured with amendments to the Banking Act, but disagreements remain between the finance minister and governor; inflation-targeting framework appears to be on track
IMF urges Sri Lanka to ‘modify’ international reserves target
Deputy managing director says international reserves remain below “comfortable levels”; central bank intends to continue building up reserves while allowing for “greater” exchange rate flexibility
Sri Lanka sets up enforcement unit after insolvency failures
Central Bank of Sri Lanka sets up new enforcement branch after unsuccessful attempt to restructure four failing financial institutions; legal action to be taken against Entrust Securities
Leaked document sparks action from Sri Lankan central bank
Report leaked on controversial bond trader Perpetual Treasuries causes stir; internal control mechanisms will be strengthened while investigation takes place
Sri Lanka releases trading stats as it seeks to develop market
First set of data shows 3.42 billion rupees traded, with transactions over 50 million rupees to be reported within 30-minute window
People: Philippines and Sri Lanka gain new monetary board members
Finance minister becomes member of Philippines’ monetary board; new joiner for Sri Lankan board; HKMA names executive director for financial infrastructure
Sri Lanka invites bids to mint 970 million coins
Central bank calling for four denominations of coin to be minted by end-March 2019; looking for mints with experience of supplying foreign countries with circulation coins
Sri Lankan governor stresses integrity in first speech
Indrajit Coomaraswamy suggests his primary responsibility is upholding the central bank’s reputation and credibility; praises “iconic figures” of the past as he takes office
Sri Lanka appoints new central bank governor
Arjuna Mahendran leaves central bank after enduring a turbulent 18 months; president appoints economist Indrajit Coomaraswamy as his successor
Sri Lankan governor will not seek reappointment until inquiry passes
Arjuna Mahendran says he will not apply for reappointment until the parliamentary committee publishes the findings of a probe into bond issuance; his first term expires on June 30
Sri Lanka targets new inflation framework under reform programme
Authorities will take steps towards inflation targeting over the coming years, while allowing greater exchange rate flexibility; IMF agrees to support reform programme
Sri Lankan central bank defends governor expenses
Central bank incurs around $663,000 in travel expenses in 2015 as governor and central bank staff attend a number of international financial meetings
People: Ireland appoints first female deputy governor; Sri Lanka also names deputy
Irish central bank appoints first female deputy governor; Sri Lanka appoints deputy; change in leadership at Chinese foreign exchange regulator; and more
Global value chain key to realising growth potentials, says Sri Lanka governor
Mahendran says Sri Lanka has not integrated fully into the international value chain; former World Bank chief economist Lin discusses ‘new’ structural economics
People: Madigan returns to Fed board; FCA appoints retail supervisory head
Brian Madigan returns to the Federal Reserve Board as FOMC secretary; Financial Conduct Authority names Jonathan Davidson director of supervision, retail and authorisations; and more
People: Sri Lanka and Paraguay name new board members
RA Jayatissa and Carlos Carballo Spalding join central bank boards in Sri Lanka and Paraguay respectively; UK firm VocaLink names new CRO
Sri Lanka’s Mahendran cleared of direct involvement in bond scandal
Governor not directly involved with irregularities in treasury bond auction, but tighter supervision of central bank operations is needed, committee finds
Sri Lanka, Indonesia take different tacks despite common imbalances
Central Bank of Sri Lanka cuts interest rates while Bank Indonesia holds; both banks are grappling with external deficits, making them vulnerable to outflows
CBSL hits back at former deputy over governance
Central Bank of Sri Lanka rubbishes claim its decision to delegate governor's responsibilities to P Samarasiri had no legal basis; former deputy calls for legal challenge of decision