The Central Bank has appointed a special high-level independent committee headed by a retired Judge to probe investments of EPF monies and ascertain the truth behind allegations that the Bank had incurred immense losses by these investments. This high-level probe will find out whether there had been any shortcomings on the part of the officials responsible for investing EPF money in a proper and transparent manner, said Central Province Governor Indrajit Coomaraswamy at a press conference held at the Central Bank premises.
The Governor said so when journalists pointed out that there were allegations that the bank had incurred losses amounting to Rs 9.5 billion in investments made with EPF funds. Journalists pointed out that an internal audit too had established this loss.
The Governor said the internal audit would help to decide whether there was a truth in these allegations or not.
He said all officers who handled investments of EPF funds have been transferred out to other departments to ensure an impartial probe.