Central Bank extends suspension of Perpetual Treasuries Limited

The Central Bank of Sri Lanka extended the suspension of controversial primary dealer Perpetual Treasuries Limited by another six months yesterday. The suspension, initially imposed on July 6, 2017, has been continuously extended every six months since then.

Perpetual Treasuries is under investigation for possible irregularities in a 2015 government bond sale. In a brief statement, the Central Bank said, "The Central Bank of Sri Lanka, acting in terms of the regulations made under the Registered Stock and Securities Ordinance and Local Treasury Bills Ordinance, has decided to extend the suspension of business of Perpetual Treasuries Limited."

As a result, Perpetual Treasuries is prohibited from carrying out the business and activities of a primary dealer for an additional six months, effective from 4:30 p.m. on July 5, 2024. This extension is intended to allow the Central Bank to continue its ongoing investigations.