Suspension on Perpetual Treasuries extended

The Monetary Board of Sri Lanka yesterday extended the suspension of primary dealer Perpetual Treasuries Limited’s business by another six months.

“The Monetary Board of the Central Bank of Sri Lanka, acting in terms of the Regulations made under the Registered Stock and Securities Ordinance and the Local Treasury Bills Ordinance, has decided to extend the suspension of Perpetual Treasuries Limited (PTL) from carrying on the business and activities of a Primary Dealer for a further period of six months with effect from 4.30 p.m. on 05th January 2021, in order to continue the investigations being conducted by the Central Bank of Sri Lanka,” the Central Bank said.

Perpetual Treasuries was alleged to have been involved in the country’s largest-ever securities scam in 2015
and 2016.

Perpetual Treasuries Limited is connected to Arjun Aloysius, the son-in-law of former Central Bank Governor Arjuna Mahendran, who has an Interpol red notice on him.