More teeth for effective functioning of CIABOC

Published : 12:45 am  January 30, 2018 | No comments so far |  |  (350) reads | 
  • Only four politicians so far convicted on corruption charges
  • Final report signed by the three PCoI members has been received
  • The CIABOC Act had been amended only once since its introduction in 1994 and added that CIABOC Act as it currently stands was insufficient to convict and punish those named by the PCoI on the CB bond scam
  • Pages which included sensitive information were not released on the instructions of the PCoI and the Attorney General due to the fact that it would affect the smooth functioning of the CB, Monetary Board and the Stock Market

 

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By Sandun A Jayasekera

President Maithripala Sirisena is to introduce a new Bribery Act to address the shortcomings — in the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) — as highlighted by Presidential Secretary Austin Fernando and CIAOBC Director General Sarath Jayamanna at yesterday’s party leaders meeting, sources said. 

The political party leaders and representatives were invited to meet the President at the presidential secretariat yesterday to discuss matters relating to the Bond Commission report.   


Mr. Jayamanna appraised President Sirisena on the outdated clauses in the CIABOC and said only four politicians had been indicted up to now on corruption charges. He said the CIABOC Act had been amended only once since its introduction in 1994 and added that CIABOC Act as it currently stands was insufficient to convict and punish those named by the PCoI on the CB bond scam.   


Untitled-1Mr. Fernando said only Sri Lanka had failed to amend the CIABOC Act so as to provide sufficient powers to deal with financial crimes.  He said  with regard to the allegations made by the joint opposition that several pages were missing from the PCoI report sent to Parliament and given to the MPs, Mr. Fernando pointed out that pages which included sensitive information had not been released on the instructions of the PCoI and the Attorney General due to the fact that it would affect the smooth functioning of the CB, Monetary Board and the Stock Market and the prosecution of miscreants. 

 
Mr. Fernando said he had the final report signed by three members of the PCoI.   


AG Jayantha Jayasuriya informed the President and party leaders on the measures taken by the AG’s department to initiate legal action against suspects in the bond scam.   


Central Bank Governor Indrajit Coomaraswamy said the CB has adopted the PCoI recommendations to prevent a repetition and that all assets belonging to Perpetual Treasuries Ltd. at various banks have been frozen.   A former COPE chairman D.E.W. Gunasekera said if President had not appointed two Supreme Court judges to the PCoI, it would not have carried out a comprehensive probe.   


 The meeting was attended by the SLFP, UNP, CPSL, JHU, EPDP, DPLF, DLF and CWC.