Central Bank of Sri Lanka bond scandal information
This article needs to be updated. Please help update this article to reflect recent events or newly available information.(October 2019)
Central Bank of Sri Lanka bond scandal which is also referred as CBSL bond scam was a financial laundering scam which happened on 27 February 2015 and caused losses of more than US$ 11 million to the nation.[1] The bond scam is also regarded as the largest reported financial scam in Sri Lanka despite the country's reputation of having a solid visionary banking system over the years.[2][3] This was a major blow to the Sri Lankan economy and was also major setback to the newly elected government under the leadership of Maithripala Sirisena which commenced its first term as of 8 January 2015. Arjuna Mahendran was appointed as the Governor of the Central Bank of Sri Lanka replacing Ajith Nivard Cabraal.
This bond issue also caused disputes between the Government of Sri Lanka and Government of Singapore over the extradition requests of Arjuna Mahendran to Sri Lanka.[4]
On 3 September 2019, Singapore's Ministry of Foreign Affairs clarified that the government would consider the extradition request from Sri Lanka once the necessary supporting information and documents were released.[5] In the same month with the approval of Singapore, Sri Lankan government lodged extradition of ex-governor Arjuna Mahendran to Sri Lanka.[6]
^"Bond scam: Court issues notices on suspects". The Sunday Times Sri Lanka. Retrieved 2019-10-28.
^"Bond Scam: Expose of the largest financial scam in the history of SL - Sri Lanka Latest News". Sri Lanka News - Newsfirst. 2018-02-03. Retrieved 2019-10-28.
^"FOUR YEARS since the infamous bond scam that rocked the country with the biggest ever financial loss - Sri Lanka Latest News". Sri Lanka News - Newsfirst. 2019-02-27. Retrieved 2019-10-28.
^"Sunday Times - President on Bond scam investigations". www.sundaytimes.lk. Retrieved 2019-10-28.
^"Mahendran, ten others to be indicted for Sri Lanka bond scam". EconomyNext. 2019-06-07. Retrieved 2019-10-28.
^hermesauto (2019-09-02). "Sri Lanka to ask Singapore to extradite ex-central bank chief Arjuna Mahendran". The Straits Times. Retrieved 2019-10-28.
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