CB validates Governor Mahendran’s appointment, new currency notes

25 June 2015 03:28 am - 0     - {{hitsCtrl.values.hits}}

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The Central Bank of Sri Lanka yesterday in a strange move validated the appointment of the present Governor Arjuna Mahendran and the currency notes issued by the bank dated 2015.02.04.

The bank said persons with “ulterior motives” are carrying out “frivolous allegation” campaigns in the media to discredit Governor Mahendran and the currency notes issued with his and Finance Minister’s signatures.  

The statement said Governor Mahendran’s appointment was carried out in compliance with law as well as the established practice.

“The provisions of section 11 of the Monetary Law Act specifically sets out the circumstances where a person becomes disqualified for appointment as the governor and the present governor’s appointment has not been tainted with any such disqualification,” the Central Bank stated. 

The statement also said the nationality of an individual has never been a relevant consideration for the appointment of a governor from the time of John Exter, a U.S. national, who was appointed the first Governor of the Central Bank of Sri Lanka.

The statement also guaranteed that currency notes issued by the Central Bank bearing the signatures of the Governor and Finance Minister with the date 2015.02.04 are a legal tender for the payment of any amount in Sri Lanka. 

“Validity of such notes has not been affected in any manner whatsoever by the specious concerns raised by persons with ulterior motives,” it noted. 
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