May 09, 2017

CB governor clears legitimacy doubts of currency notes

Central Bank Governor Indrajit Coomaraswamy has cleared doubts on the legitimacy of Rs.5000 and Rs.100 currency notes released under the signature of former Governor Arjuna Mahendran.

Addressing media conference convened to brief journalists on Monetary Policy Review: No. 3 – 2017 In Colombo on Monday 9th he noted that as the president of this country with executive powers has made the appointment of Mr Mahendran as the governor of the Central Bank his suitability to the post cannot be challenged.

On the other hand he pointed out that currency notes issued under the signature of legally appointed Governor of the CB is valid for any financial transactions.

Therefore no one should entertain unnecessary fear on the legitimacy of Rs.5000 and Rs.100 currency notes bearing the signature of former Governor Arjuna Mahendran.

The legitimacy of former Central Bank Governor Arjuna Mahendran signing a local currency note came under severe criticism yesterday in Parliament.

UPFA Joint Opposition Parliamentarian Bandula Gunwardena challenged the validity of currency notes bearing Mahendran’s signature while highlighting the court ruling on UPFA Joint Opposition MP Geetha Kumarasinghe’s dual citizenship.

Gunwardena, tabling a Rs. 100 currency note issued with the signature of Mahendran, said: “Arjuna Mahendran is a Singaporean citizen. A Singaporean citizen cannot obtain dual citizenship. Despite that Mahendran was appointed the Governor of the Central Bank. Currency notes were issued under his signature.

“If currency notes signed by a non-Sri Lankan citizen are valid, how can MP Kumarasinghe, who even withdrew her dual citizenship, be disqualified from holding a parliamentary seat? He questioned.

Mahendran had not even taken oaths as per the Constitution when he assumed duties,” MP Gunawardena said.

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