The Governor of the Central Bank testifies before the Parliamentary Select Committee probing the Easter Sunday Attacks

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Governor of the Central Bank Dr. Indrajith Kumaraswammy testified before the Parliamentary Select Committee probing the Easter Sunday Attacks, today.
Director of the Department of Foreign Exchange at the Central Bank: R. R. Jayarahtne also testified.
The sources of foreign funds alleged to have been received by M.L.A.M. Hisbullah and his son on behalf of the controversial ‘Batticaloa Campus’, were queried. The Director of the Forex Department stated, the transactions had taken place before the Monitory Act was amended in 2017. He further stated, under present Foreign Exchange Act, the ‘offence’ is not ‘described’. Therefore, he points out, penalization cannot be done without a ‘proper description’.
He added, the Financial Intelligence Unit is conducting an inquiry on transactions of significant high value, and certain details pertaining to how 26 million rupees arrived in the island will be disclosed when the Parliamentary Select Committee queries the details in secrecy.
There is a mismatch in the stated figure received by the Batticaloa Campus from Saudi Arabia, which has been given us 17.5 billion rupees by the FCID, but which is given as 26 million rupees by the Central Bank.
Mr. Jayarathne stated, the figure quoted by the Central Bank is correct. The Attorney General has recommended that a joint investigation be carried out by the Central Bank and the FCID, together with the Ministry of Foreign Affairs into the sources from which funds were received from Saudi Arabia in favour of the Batticaloa Campus.
The Parliamentary Select Committee advised the Governor of the Central Bank to take measures in this respect.

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