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Travel ban on former CBSL Governor Cabraal extended

The overseas travel ban imposed to former Governor of the Central Bank of Sri Lanka (CBSL) Ajith Nivard Cabraal has been extended till October 26, as ordered by the Colombo Magistrate Court today (25).

The order was issued by Colombo Additional Magistrate Harshana Kekunawala as a complaint filed by former Governor Rajith Keerthi Thennakoon was taken up today.

Cabraal is accused of paying US $6.5 million to a representative of Zubheri, a US citizen, without the approval of the Cabinet or the Monetary Board of the CBSL during his tenure as the CBSL Chief from 2006 to 2015, causing a loss of US $500 million to Sri Lanka through the sovereign bonds due on maturity on January 18, as the Governor in 2022, and causing a loss of Rs. 10.04 billion via treasury bills and bond issues by appointing his close relatives to positions and leaking confidential information during his tenure as the Governor.

MIAP

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