NewsA leaked report of the Central Bank’s internal audit department on foreign travel and other expenses by Arjuna Mahendran, the former controversial Governor, reveals details of how a janitorial and garbage clearance firm was nearly picked to outsource media activities. “FEMS has submitted the qualifications and experience of the proposed persons by them for the said project and one such proposed persons was named as the head of the team, i.e. One was Head of Marketing of The Finance PLC while the latter is Assistant Manager in Fund Mobilisation, Softlogic Finance PLC. Both these companies are under the supervision of the Central Bank and allowing them to work would have been a conflict of interest, the report notes. They pointed out that Monetary Law Act required the maintenance of secrecy.

Source: Sunday Times February 13, 2017 07:10 UTC