Ex-CBSL Governor Cabraal on Forensic Report
Posted on January 26th, 2020

Courtesy The Island

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Former Governor of the Central Bank of Sri Lanka (CBSL), Ajith Nivard Cabraal, has issued the following statement in response to the Forensic Audit report bond issuances:

“In 2015, I went before the DEW Gunasekera COPE Committee and provided details about my relatives in the Banking Sector. I had also provided a clear explanation about my relatives in the banking sector, through a media statement, in 2007,
and it was carried in The Island on 12 August, 2017. (http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=169868

Hence, there was no need for a Rs.300 million “Forensic Audit” to reveal this.

“In this regard, the real issue is whether the so-called Forensic Audit has uncovered any information that links me to any wrong-doing. In fact, even as the Report grudgingly acknowledges, the answer is a clear NO.”

The Island article published on 12 August, 2017:

Nivard Cabraal clarifies picture on his relations in banking

“Corrupt and ignorant politicians trying to judge us by their standards”

by Ajith Nivard Cabraal

August 12, 2017

Much has been said by certain interested parties about my sister, Siromi Wickramasinghe, being appointed as the Chairman of the HDFC Bank by the previous government. In that regard, I can only say that she was a “fit and proper” person to hold that position, having risen to the rank of a Deputy General Manager of the Hatton National Bank, in an impeccable banking career.

In addition, as I have already informed COPE [Committee on Public Enterprises], there were several other relations who also served on the boards of banks in their own right with honesty and professionalism, as they were qualified, competent, and respected persons in society. For completeness sake, let me list out those who served on the Bank boards, in their own right:

Nihal Fonseka – first cousin – Director and CEO of DFCC Bank;

Amal Cabraal – first cousin- Director of HNB;

Ravi Thambiayah – brother-in-law – Director of DFCC;

Sunil Wijesinha – brother-in-law – Chairman of NDB;

Dhara Wijayatilake – sister-in-law – Director of Sampath Bank;

Shibani Thambiayah – niece – Director of DFCC Vardhana.

Several of my relations serve on Bank boards even now, and in fact, Nihal Fonseka presently serves on the Monetary Board of the Central Bank while Amal Cabraal serves on the Monetary Policy Consultative Committee of the Central Bank and the Board of HNB. In addition, the following relations, Dhara Wijayatilake (Sampath Bank) and Shibani Thambiayah (DFCC Bank) continue to serve on Bank boards, while brother-in-law, Ranel Wijesinha (Bank of Ceylon) and nephew-in-law, Anush Wijesinha (Seylan Bank), have also been appointed to Bank boards during the past two years.

As would be clear, it would be outrageous for anyone to insinuate that any of the above-mentioned relation of mine would have ever been influenced by me, or that they would have attempted to influence me. As a respected and highly professional family, we have all conducted ourselves with dignity, honesty and professionalism, and it is pathetic to see some corrupt and ignorant politicians attempting to judge us by their contemptible standards. 

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