Overseas travel ban on Cabraal extended

Overseas travel ban on Cabraal extended

November 24, 2022   10:31 am

The foreign travel ban imposed n former Central Bank governor Ajith Nivard Cabraal has been extended until December 15.

A private plaint filed by former Governor of the Southern Province, Ranjith Keerthi Tennakoon was called before Colombo Magistrate’s Court this morning (Nov. 24).

The plaintiff alleges that during his tenure as the Central Bank governor from 2006 to 2015, Cabraal had paid a sum of USD 6.5 million to Pakistani-American political donor Imaad Zuberi without the approval of Cabinet Ministers and thereby is responsible for criminal breach of trust and criminal abuse of funds.

He also accused Cabraal of causing a loss of USD 500 million to the Government of Sri Lanka through sovereign bonds due on January 18, 2022, while serving as the Central Bank governor.

According to the plaintiff, the Sri Lankan government incurred a loss of LKR 10.04 billion through the appointing of close relatives to positions and from the release of confidential information on Treasury bills and bond issues, during his tenure as the Governor of the Central Bank of Sri Lanka.

When the case was taken up by Colombo Additional Magistrate Harshana Kekunawala, the attorneys representing Cabraal raised preliminary objections against the proceeding with the matter.

Accordingly, the attorneys who appeared on behalf of the plaintiff were ordered to present written submissions on December 15 pertaining to the preliminary objections raised by the defence.

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