Mr. Mahendran CB Governor can we get some answers
Monday, 09 March 2015 
People were relived to see the back of Mr Cabral and Dr Jayasundera on the 9 th of January, hoping for a new start, not even a month elapsed our entire financial system is plagued again with a new financial crime. If Mr. Mahindra Governor Central bank of SriLanka wants to regain his credibility he needs to respond with some credible explanations. So far he has still not answered many of the questions that have been raised in the Lanka news web or the local media. He has glossed over the financial crime with a few vague statements.
As the Governor could you please answer the following questions?
1. Is your son in law still a shareholder of Perpetual?
1. Is your son in law still a shareholder of Perpetual?
2. Did perpetual treasuries get involved in the sale of 7-year bonds one week forward in the secondary market 1-2 days before the controversial bond issue?
3. Did you get involved in arranging credit line for perpetual from a state bank?
4. What was the rationale to go for a 30y Bond going up to 12.5%? Were the insurance companies and pension funds informed about this in advance? Why not 2 year, 5 year or 10 year Bonds not considered? In your statement you mention it was to cover shortfalls, so why 30 years?
5. Did you have the sanction of the Cabinet of Ministers headed by the President to commit the government of Sri Lanka to a 30 y Bond at 12.5%, weighted average yield went up 200+ basis points, unbelievable? Especially when the expectation is for interest rates to be single digit, given that we are heading towards a middle-income country?
6. CB after offering only 1 billion for the first time in history offered 10 times more. Why? How did perpetual get 50% of the issue (five billion)?
7. Is it correct that the perpetual bid came though Bank of Ceylon minutes before the auction closed?
8. Finally, are you now a Sri Lankan citizen and what is the status of the EPF investigations?
You owe the voters an explanation Sir, you are no longer a wealth manager for a foreign Bank. In you rest our entire financial system and our future. Therefore, Sir you need to come clean, if you are to continue in this high office
Good Governance Activist
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