NY property purchase: CB sets record straight

In response to an allegation by the Opposition UNP in Parliament with regard to the Central Bank’s acquisition of property in New York, the bank said it has been reported in accordance with applicable accounting standards

“The Central Bank wishes to confirm that the bank has reported the acquisition of a property in New York, USA, in accordance with the prevailing International and Sri Lanka Accounting Standards, and also that the property has been acquired in accordance with the established legal framework and procurement procedures. Further, in keeping with the advice of the Attorney General, the Cabinet of Ministers too has been apprised of the acquisition. “Accordingly, contrary to the claim made by an Opposition MP, the transaction has properly been entered into,” the Central Bank said in a statement.