SLC denies transfer of money to third-party accounts

COLOMBO (Daily Mirror) - Sri Lanka Cricket (SLC) has said there was no dubiousness behind the transfer of USD 2 million from its accounts this morning, which was highlighted by Sports Minister Roshan Ranasinghe during the Parliamentary debate on SLC today. 

“SLC categorically denies any attempt to transfer funds from its accounts to third party accounts,” SLC said in a media statement. 

Leader of the Opposition Sajith Premadasa moved a debate on a resolution to call on the office bearers of SLC, including its Chairman, in the face of allegations of corruption and for its role in the national team’s poor performance at the Cricket World Cup 2023.

“As the governing entity for cricket in Sri Lanka, SLC receives funds and sponsorship income in USD, which are intentionally kept in our USD accounts to leverage exchange rate fluctuations. However, it is important to note that SLC needs to carry out its operations in Sri Lanka and fulfill financial obligations to stakeholders, including suppliers, on a regular basis,” it also said. 

“To meet these expenses, SLC follows the practice of transferring funds from its USD account to its local currency (LKR) accounts. This has been a longstanding practice, as SLC does not derive significant income in local currency.”

SLC also clarified that the transfers were solely for operational purposes and are not indicative of any attempt to transfer funds out of SLC's accounts. 

“Thus, any claims stating that SLC is trying to transfer funds out of its accounts are false and factually incorrect.”

“Accordingly, and to clarify the misconceptions, we have taken steps to release a schedule to the Parliament and to the Ministry of pending payments, for which cheques have been issued to suppliers, stakeholders, and third parties who have provided services to SLC. The schedule covers the period from 17th August 2023 to 8th November 2023 and ensures that the necessary funds are available in our LKR account to fulfill these payments upon presentation to the bank,” the statement also read.