Cabraal Discharged Conditionally, Ordered to Compensate CBSL 🏛️

• Former CBSL Governor Ajith Nivard Cabraal has been granted a conditional discharge by the Colombo High Court. • He is required to compensate the Central Bank of Sri Lanka (CBSL) for losses incurred from investments in Greek Government treasury bonds. • The compensation amount is a little over Rs. 1.8 billion (specifically Rs. 1,843,267,595.65), to be transferred to CBSL within three months. • Failure to comply with this order will result in further indictment. • Cabraal was accused of causing financial loss to the Government between 2011 and 2012. • His legal team argued that while his participation in the decision couldn't be denied, he had no intentional intent to cause loss and acted based on recommendations from Deputy Governors and senior officers. • The Commission to Investigate Allegations of Bribery and Corruption (CIABOC) agreed to withdraw the indictment under s. 67 (3) of the Anti-Corruption Act 2023, conditioned on the payment. • Four other senior Central Bank officers accused in the case were acquitted.