News
Pandora Papers disclosure: Int’l cooperation essential to hold wrongdoers accountable – TISL
Three RTI applications filed calling for information about asset declarations submitted by Nirupama Rajapaksa
Transparency International Sri Lanka (TISL) says international cooperation through diplomatic channels is essential to hold offshore enablers and asset destinations accountable.
TISL has said that in addition to a complaint filed with the Commission to Investigate Allegations of Bribery or Corruption (CIABOC), three RTI (Right to Information) applications have been filed seeking asset declarations submitted by Nirupama Rajapaksa. TISL has also written to the FIU (Financial Investigation Unit) calling for immediate investigation into potential money laundering claims.
TISL has said in a media statement: “The Pandora Papers exposé provides clear evidence of how the offshore industry promotes corruption and demonstrates the importance of ensuring the transparency of beneficial ownership of entities. Particularly in Sri Lanka, the Pandora Papers refer to extensive assets held offshore by former Deputy Minister of Water Supply and Drainage, Nirupama Rajapaksa and her husband, Thirukumar Nadesan. TISL in its initial statement following the revelations, called on the Sri Lankan authorities to ensure that independent investigations are carried out expeditiously into the revelations made by tPandora Papers. Since then, the President has called on the Commission to Investigate Allegations of Bribery and Corruption (CIABOC) to investigate the claims made by Pandora Papers.
TISL has taken several steps since the initial statement, pertaining to the revelations made by Pandora Papers.
One 07 October 2021, TISL filed a complaint with CIABOC, calling for an investigation into the alleged unexplained assets of the former Deputy Minister and her husband who has been identified as Politically Exposed Persons (PEP). TISL noted that the transactions revealed through this exposé could amount to offences under Section 23A of the Bribery Act, Section 4(1) of the CIABOC Act, and relevant provisions of the Declaration of Assets and Liabilities Law, and requested the Commission to probe into the Declarations of Assets and Liabilities of Nirupama Rajapaksa relating to her tenure as a Member of Parliament. TISL requested CIABOC to investigate whether public funds have been embezzled and laundered to these foreign safe havens.
TISL also wrote to the Financial Intelligence Unit (FIU) of the Central Bank of Sri Lanka on 13th October, calling on them to coordinate with relevant law enforcement authorities at both local and international level to investigate potential money laundering allegedly committed by the former Member of Parliament and her spouse. The FIU, as the central independent body established in terms of the provisions of the Financial Transactions Reporting Act No. 06 of 2006 (FTRA), is empowered to facilitate the prevention, detection, investigation and prosecution of offences related to money laundering and terrorist financing.
Through the letter TISL requested the FIU to take further steps to furnish the authorities with evidence, examining the financial transactions that have flowed in and out of Sri Lanka by coordinating with local and foreign financial institutions connected to these two individuals.
TISL has also filed three Right to Information Requests to the Elections Commission, Parliament of Sri Lanka and the Presidential Secretariat, calling for the Declarations of Assets and Liabilities of Nirupama Rajapaksa as an election candidate, Member of Parliament and Deputy Minister respectively
The Declaration of Assets and Liabilities Law No 1 of 1975 makes it mandatory for Parliamentarians and senior public officials to annually submit a declaration of assets and liabilities, which includes the assets and liabilities of their spouse and dependent children. If the former Parliamentarian has not disclosed the overseas assets revealed through Pandora Papers, she will be in breach of the Declaration of Assets and Liabilities Law. Therefore, her asset declarations would be a key tool to identify whether the overseas assets of the deputy minister, her spouse and children revealed through Pandora Papers have been disclosed at the time.”
TISL Executive Director, Nadishani Perera, commenting on the matter stated “We urge the relevant authorities in the country to take immediate action to independently investigate the revelations made by Pandora Papers. It is important that the due process is followed without any interference, obstructions or delays. For the PEPs implicated, there remains a path to clearing their name, if they were to heed the call of the public by making the relevant asset declarations public. A thorough and impartial investigation will also bolster faith in the law enforcement agencies of the country and prove to be an important deterrent against perpetrators of white-collar crimes.”
The TISL Executive Director also noted that “while it is important to take stringent action to prevent foreign currency unlawfully flowing out of the country into secrecy jurisdictions, it is also imperative that countries like Sri Lanka take this issue up on a diplomatic level in order to ensure financial institutions in countries such as Singapore are also held accountable and that steps are taken to recover any proceeds of crime back to our country from these asset destinations.”
Latest News
Peter Magyar sworn in as Hungary’s PM, ending Orban’s 16 years in power
Peter Magyar has been sworn in as Hungary’s new prime minister, almost a month after parliamentary elections that ended Viktor Orban’s 16 years in power.
Magyar, 45, who leads the centre-right Tisza party, was propelled into office on promises of change after years of economic stagnation under Orban, and strained ties with key allies, including the European Union.
On Saturday, Magyar invited Hungarians to “step through the gate of regime change”.
His party has a huge parliamentary majority, winning 141 of the 199 seats.
However, Magyar faces several challenges in his new role, including restoring Budapest’s relations with the EU, reviving the economy and tackling a budget deficit that reached almost three-quarters of its full-year target by April.
A ceremony was held inside Hungary’s neo-Gothic parliament building as Magyar was sworn in. The EU flag, removed under Orban, was displayed inside the chamber for the first time in 12 years.
The newly appointed parliamentary speaker, Agnes Forsthoffer, used her first decision in office to order the flag’s reinstatement, describing the move as “the first symbolic step on this path [back to Europe]”.
The new prime minister aims to strike a deal with the EU that would unlock around $20bn in frozen funding. The money was withheld over concerns about worsening human rights under Orban and a decline in the rule of law.
During Orban’s tenure, Hungary drifted further away from the EU as ties with Moscow deepened. The former prime minister used his veto in the European Council to oppose sanctions on Russia and block support for Ukraine.
Theofanis Exadaktylos, a professor of European politics at the University of Surrey, told Al Jazeera that Magyar will need to prove he is different from Orban while dealing with the bureaucracy left behind by his predecessor.
“The challenges for the new PM are primarily related to the extensive presence of the previous regime. Orban was in power for such a long time and he has managed to change Hungary substantially from an administrative point of view. To that end, uprooting the previous establishment will be a challenge,” he said.
“The second [challenge] will be to establish himself as different to the previous regime. Considering his background there will be sceptic voices, however let’s not forget that ideologically he belongs to the right,” he continued.
“Nonetheless, his election marks a turning point in Hungary showcasing that the previous regime had started to lose ground in its popular basis. The third challenge is the way he will reconnect Hungary to the European Union: to that end, he has a bit of work to do from a diplomatic point of view to create new allies within the Union.”
Magyar’s rise to prime minister is widely regarded as a remarkable feat. He was largely unknown in Hungarian politics until early 2024, when he became embroiled in a public dispute with Orban’s ruling Fidesz party, of which he had previously been a prominent member.
[Aljazeera]
Latest News
Senior Sri Lankan monk arrested for alleged child sex crimes
A prominent Buddhist monk has been arrested in Sri Lanka for allegedly sexually abusing an 11-year-old girl, in the highest-profile case involving a local religious leader.
Authorities took 71-year-old Pallegama Hemarathana into custody on Saturday from a private hospital in the capital, Colombo, where he had checked in for treatment as a criminal probe against him progressed.
Hemarathana is accused of committing the abuse in 2022 in a highly venerated temple in Anuradhapura, where he is the chief priest.
Authorities said the victim’s mother has also been arrested for aiding and abetting the monk.
“We will be guided by the magistrate on further action,” a police statement said Saturday.
Hemarathana, who had been subject to a foreign travel ban, was detained on the orders of the chief magistrate in Anuradhapura, after child protection authorities cited complaints of delays in his arrest, reported Sri Lanka’s Daily News. It said the court instructed police to arrest Hemarathana and bring him before the court “without delay”.
There have been several cases of clergy abusing children in Sri Lanka, but the latest arrest involves the most senior monk to be accused of such a crime.
Last month, 22 monks were arrested at Colombo’s international airport after 110kg (242lbs) of cannabis were found hidden in their bags, in what was the biggest drug smuggling discovery ever in the facility.
[Aljazeera]
Business
Trade, Investment and Tourism Cooperation Forum strengthens economic ties between Sri Lanka and Vietnam
Marking a significant milestone in strengthening bilateral relations between Sri Lanka and Vietnam, the Sri Lanka– Vietnam Trade, Investment and Tourism Cooperation Forum was successfully held on Friday (08) at the Hilton Colombo.
The Forum, jointly organised by the Vietnam Chamber of Commerce and Industry and the Sri Lanka Export Development Board, was held in parallel with the State Visit of President Tô Lâm of the Socialist Republic of Vietnam and General Secretary of the Central Committee of the Communist Party of Vietnam. The event was attended by President Tô Lâm and Prime Minister Dr. Harini Amarasuriya.
The Forum underscored the importance of the longstanding bilateral relationship between the two countries and reflected the shared commitment to expanding economic cooperation.
The primary objective of the Forum was to further strengthen bilateral economic ties by focusing on key priorities including the expansion of trade, promotion of investment and enhancement of tourism cooperation. The event also provided an opportunity to explore new avenues of collaboration, strengthen business-to-business engagement and facilitate greater market access by bringing together senior government officials, entrepreneurs and industry leaders from both countries on a common platform.
During the Forum, direct air connectivity between Colombo and Ho Chi Minh City was officially launched. The new services, operated by Vietnam Airlines and VietJet Air, are expected to further strengthen relations between the two nations and their people.
Six Memoranda of Understanding covering key areas of cooperation were also signed during the Forum. In addition, a notable development was the establishment of the Sri Lanka–Vietnam Business Council under the Ceylon Chamber of Commerce.
Alongside the Forum, the Sri Lanka Export Development Board organised a business networking session, providing Sri Lankan and Vietnamese entrepreneurs with the opportunity to engage directly with one another. The event received strong participation from the private sectors of both countries, with businesses expressing keen interest in expanding trade and establishing resilient supply chains.
Representing Sri Lanka at the event were Minister of Industry and Entrepreneurship Development, Sunil Handunnetti, Minister of Environment , Dr. Dhammika Patabendi, Deputy Minister of Industry and Entrepreneurship Development ,Chathuranga Abeysinghe, Deputy Minister of Ports and Civil Aviation, Janitha Ruwan Kodithuwakku, Deputy Minister of Tourism Ruwan Ranasinghe, Secretary to the Ministry of Industry and Entrepreneurship Development, Thilaka Jayasundara, Secretary to the Ministry of Trade, Commerce, Food Security and Cooperative Development, K.A.Vimalenthirarajah, Chairman of the Export Development Board Mangala Wijesinghe along with several other dignitaries and officials.
Representing Vietnam were Politburo Member, Secretary of the Party Central Committee and Chairman of the Central Organisation Commission , Nguyen Duy Ngoc, Politburo Member, Secretary of the Party Central Committee and Chairman of the Central Commission for Policies and Strategies , Nguyen Thanh Nghi, Politburo Member, Deputy Prime Minister and Minister of National Defence, Phan Van Giang, Politburo Member and Minister of Public Security, Luong Tam Quang and Politburo Member and Minister of Foreign Affairs, Le Hoai Trung, among others.
(PMD)
-
News3 days agoMIT expert warns of catastrophic consequences of USD 2.5 mn Treasury heist
-
News5 days agoCJ urged to inquire into AKD’s remarks on May 25 court verdict
-
News6 days agoUSD 3.7 bn H’tota refinery: China won’t launch project without bigger local market share
-
News7 days agoEaster Sunday Case: Ex-SIS Chief concealed intel, former Defence Secy tells court
-
Business7 days agoDialog Surpasses 1,000 5G Sites, Strengthening Nationwide 5G Coverage
-
Editorial3 days agoClean Sri Lanka and dirty politics
-
Editorial6 days agoDeliver or perish
-
Opinion5 days agoSecurity, perception, and trust: Sri Lanka’s delicate balancing act
