The Chief Justice was a no-show at a Central Bank (CB) awareness programme on financial system stability yesterday.
Slated to deliver the keynote address, participants were told Sarath N. Silva could not attend due to unforeseen circumstances.
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| The Central Bank Governor making his address |
The CB and its Governor Ajith Nivard Cabraal have been players in the unfolding oil hedging fiasco. The deal between the Ceylon Petroleum Corporation (CPC) and the banks was challenged in the Supreme Court and the case heard by a panel of judges headed by Mr. Silva.
Delivering the welcome address at the CB during Saturday's programme, Mr. Cabraal spoke on the instability in financial systems, given the global financial crisis which was instigated by the subprime mortgage crisis in the United States in September 2007.
A culmination of events since then has engulfed the world economies, creating widespread instability. Mr. Cabraal said the CB took several measures prior to the crisis and emphasized the importance of safeguarding the banking system. | 
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