Writ petition filed before Appeal Court against Cabraal’s CBSL Governor appointment

By Aazam Ameen

Former Governor of the Southern Province of Sri Lanka Keerthi Thennakoon has filed a Writ of Mandamus, Prohibition and Certiorari in the Court of Appeal against the appointment of former State Minister of Money and Capital Market and State Enterprise Reforms Ajith Nivard Cabraal as the Governor of the Central Bank of Sri Lanka (CBSL).

Speaking to The Morning, Thennakoon explained that there are various allegations against Cabraal which make him unfit to assume the role of the Governor of the CBSL.

“We know that he has been involved in a series of hedging deals. He also had a role to play with regard to payments made to Imaad Shah Zuberi. There are also reports of EPF money manipulations as well,” he stated.

Thennakoon notes that with such an alleged track record, along with the fact that Cabraal has been a politician and a State Minister, re-entering the CBSL violates the foundations and independence of the CBSL.

He also added that Cabraal has been named in four forensic reports, and that there is an ongoing criminal case against him, of which a forensic audit report has already been handed over to the Attorney General (AG).

As some of the staff at the CBSL have provided evidence against Cabraal in such cases, Thennakoon notes this as another reason why the position of Governor is not appropriate for Cabraal.

In his Writ of Mandamus, Prohibition and Certiorari, Thennakoon has named the Attorney General, the Inspector General of Police, the Minister in charge of Finance, the Deputy Governors of the CBSL, the Secretary of the President and Cabraal himself as respondents.