Categories: Headlines

Ex-EPF head admits he approved some of Saman Kumara’s bond deals

It was revealed at the presidential commission of inquiry probing the bond scam yesterday that an internal inquiry had been initiated against Assistant Governor of the Central Bank and former head of its EPF Department R. A. A. Jayalath.

When Commission member Justice Prasanna Jayawardena questioned Jayalath on the internal inquiry, the latter said that explanation had been called from him on market manipulation, violation of investment trading guidelines and three other issues.

He was questioned by the Counsel Chanaka de Silva appearing for former Central Bank Governor Arjuna Mahendran.

Jayalath told the Commission that he had not done anything wrong and there was no charge sheet against him; only explanations had been sought as regards certain issues in the Central Bank EPF Department while he was its superintendent.

Jayalath said, on being questioned, that he had given approval for some of the EPF bond transactions carried out by Saman Kumara, who had worked in the front office of the EPF Department and is now under interdiction.

Counsel de Silva: Did you apply for the post of Deputy Governor of the Central Bank?

Jayalath: Yes.

De Silva accused Jayalath of lying to the commission, but the latter denied the allegation.

Counsel de Silva asked whether Jayalath had not succeeded in becoming a Deputy Governor because explanation had been called from over five issues. The latter answered in the affirmative.

Perpetual Treasuries CEO Kasun Palisena has been summoned to appear before the commission next Tuesday. He has also been ordered to hand over all his communication devices including his laptop computer and mobile phones to the CID unit attached to the commission. Assistant Solicitor General Yasantha Kodagoda informed the commission that those devices were needed for a digital forensic investigation.

Lankanewspapers

Recent Posts

LNP – India, Sri Lanka sign landmark defence pact during Modi’s visit

In a significant step towards bolstering bilateral ties, India and Sri Lanka on Saturday signed…

8 hours ago

LNP – India, Sri Lanka exchange seven MoUs

India and Sri Lanka exchanged seven MoUs covering areas such as defence, interconnection of two…

8 hours ago

LNP – Sri Lanka sends military team to assist Myanmar’s earthquake victims

A team of Sri Lankan tri-forces personnel, including medical staff, departed for Myanmar on a…

8 hours ago

LNP – CSE dips again amid ongoing global trade tensions

The Colombo Stock Exchange (CSE) extended its losses as uncertainty over global tariff negotiations continued…

13 hours ago

LNP – Excise earns record revenue of Rs.61Bn in 2025 first quarter

One of the three main revenue-generating arms of the country and the competent authority regulating…

13 hours ago

LNP – Cut our tax to 6% or drop tariffs to counter US move: Kalugamage

The best and only solution to the new tax rate imposed by the US is…

13 hours ago