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Monetary Board decides to begin disciplinary proceedings over EPF’s transactions in G-secs

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28 March 2017 12:03 am - 1     - {{hitsCtrl.values.hits}}

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The Central Bank yesterday said the Monetary Board has decided to take disciplinary action against any official of the bank for wrongdoing with regards to the Employees’ Provident Fund (EPF) transactions in government securities.
A statement by the bank said the Monetary Board during its recent meeting had a discussion on the ‘Report on the Examination of the Employees’ Provident Fund Transactions in Government Securities’ with a view to decide the suitable course of action to be followed in respect of the findings.
“The Monetary Board decided to commence disciplinary proceedings in terms of the internal procedures of the Central Bank of Sri Lanka against any officials of the bank where there is evidence of wrongdoing,” the statement noted. 


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  Comments - 1

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  • S.Balasingam Wednesday, 29 March 2017 08:17 AM

    Where did the CBSL go wrong in handling the poor people's hard earned money kept for safe keeping?. The top management including the finance ministry must be held responsible as they seemed to have failed to monitor the different and important functions of the CBSL regularly. Prevention is Better than cure is the basic principle in managing institutions. So the PreZ and PM must be urged to provide proper guidelines to all institutions in this regard. What did the Auditor General do all these years?.


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