The Hon. Ravi Karunanayake

¶ 01 Hon. Speaker, I rise to bring to your notice a serious matter concerning violation of my rights and seek leave to make a Personal Explanation in terms of Standing Order No. 27.(8). I must confess at this moment, Hon. Prime Minister, that this bears no relevance at all to you and that I seek only a rectification of an injustice that had happened to me. It is not a matter of Privilege, but only a Personal Explanation.

¶ 02 Sir, on the 26th of November, 2025, during the Answers given in this House relating to the 2015 Treasury Bond issue, a matter pending before court for nearly five years, the Hon. Prime Minister made a statement which had the effect of attributing ministerial responsibility to me in a manner that is factually incorrect, misleading and damaging my reputation as a Member of Parliament.

¶ 03 In her response, the Hon. Prime Minister stated that her position regarding those responsible for the Central Bank bond transactions was based on “the recommendations contained in the Report of the Presidential Commission of Inquiry”. Although that was precisely the second question posed to the Hon. Prime Minister, she, instead of answering the same, unfortunately stated something else. Even though she did not expressly say that “the Central Bank came under Minister Ravi Karunanayake”, the clear implication of her answer, particularly when citing the Presidential Commission of Inquiry, was that I bore ministerial responsibility for the Central Bank and its actions during that period. That implication is entirely incorrect, it is unsupported by the Presidential Commission of Inquiry and is directly contradicted by the official gazette notifications issued under Article 44(1) of the Constitution. Therefore, I think it is time that I rectify it while appreciating the answering of that Question.

¶ 04 During the Prime Minister’s response, I was described as “the Minister in charge of Finance” at the time of the alleged bond transaction, suggesting that ministerial authority over commercial banks was vested in me. That is false, misrepresents my official role, misleads the House and prejudices the ongoing judicial proceedings.

¶ 05 Sir, at no point during my tenure as Minister of Finance was I assigned the subject of the Central Bank of Sri Lanka. This is the first time I am publicly mentioning it. At no given time was I assigned that institution. The constitutional and administrative record—the gazette—is unambiguous. The Central Bank has, historically and at all times, been under the Minister of Finance, except, exceptionally, during the period when I held that office. I did not exercise ministerial oversight over the Central Bank, its Monetary Board or its regulatory actions during my tenure. Ministerial oversight over the Central Bank had been assigned to the then Prime Minister and Minister of National Policies and Economic Affairs, the Hon. Ranil Wickremesinghe. Cabinet records, gazette notifications and administrative circulars confirm that position beyond any doubt.

¶ 06 Similarly, commercial banks, at the time in question, fell under the purview of the Minister of Public Enterprise Development, the Hon. Kabir Hashim. His portfolio included State banks and commercial banks including the Bank of Ceylon, the People’s Bank, the National Savings Bank, the SME Bank and banking governance functions.

¶ 07 Sir, I must acknowledge and I acknowledge it with thanks that former President Ranil Wickremesinghe, on many occasions, had spoken of this matter, the last being the 27th of May, 2025 during a media interview, where he categorically mentioned that he was fully responsible. I must also mention that the Hon. Sunil Handunnetti, who was the then Chairman of the COPE, would also bear testimony to what I said.

¶ 08 Sir, in conclusion, I would like to say that the Hon. Prime Minister stated that her answer was grounded on the recommendations contained in the Report of the Presidential Commission of Inquiry. That is factually incorrect and misleading because the Presidential Commission of Inquiry, in their entire Report, did not find me guilty of anything or find me wanting on any allegation whatsoever. Thank you, Sir.