Perpetual Treasuries future lies with Monetary Board meeting on Friday  

Sri Lanka’s Monetary Board is to take necessary action on Friday against primary dealer Perpetual Treasuries allegedly involved in Central Bank (CB) bond scam after reviewing the bank’s onsite examination report of the tainted trader. 
The CB will decide on its action relating to this matter following conclusions and directives made at the Monetary Board meeting that will be held on Friday 4, CB Governor Dr. Indrajit  Coomaraswamy told a media conference in Colombo on Tuesday.
The preparations of the relevant onsite examination report relating to operations of primary dealers including their financial performance during the year ended 31st March, 2016 as well as the 5-month period ended 31st August 2016 have been completed.
These reports including the Perpetual Treasuries will be presented at the Monetary Board meeting and decision on what action that should be taken by the CB would be determined after reviewing the report, he disclosed. 
The CB has also taken measures to streamline the existing process of issuing treasury bonds and has devised a more transparent and hereafter flawless system with the assistance of experts of the International Monetary Fund and the World Bank, Dr Coomaraswamy said adding that CB will study similar systems in other countries before the finalisation of the new system.
Domestic Debt Management, Technical and trading centres as well as a special investigation centre will be established under the new system within three or four months, he revealed.
An electronic trading system is to be established within a year minimising manipulations in bond trading, he added.
The CB has been in the eye of a storm since February 2015 after the tainted deals pertaining to a 30-year bond issue favouring Perpetual Treasuries rocked the market.(Bandula)