Ex-CB Chief should have done KYC test on DSK!

Friday, 6 March 2015 00:00 - - {{hitsCtrl.values.hits}}

I write with reference to the statement issued by the former Central Bank Governor Nivard Cabraal ‘Former CB Chief slams allegations…’ and reported in your newspaper of 2 March (http://www.ft.lk/2015/03/02/former-cb-chief-cabraal-slams-allegations-against-deal-with-ex-imf-chief/). I have no doubt that Dominique Strauss-Kahn(DSK) and his consultancy firm was (note the past tense used) considered to be an outstanding resource and DSK a highly-recognised and competent person internationally known for his wide knowledge and ability. The above words used by the ex-Governor to justify employing DSK omits some important criteria which bankers are required to carry out under the Central Bank issued guidelines on Know Your Customer (KYC) requirements. The standard of care and good governance that Banks are required to follow also cover excellent reputation and highly regarded. Unfortunately if you do check the internet, DSK’s name is associated with sexual assault, molestation, attempted rape, running naked and many other descriptive, which are inappropriate to mention in your esteemed newspaper. With DSK’s reputation tarnished, he not only had to step down from being the Managing Director of The IMF, even the French people, who are far more liberal than us, thought that he was not a suitable candidate to contest the presidential elections and he had to withdraw. But the irony of it all was that the ex-Governor thought it was in order to appoint DSK as an advisor against all the good governance rules applicable to us lesser mortals. I do not understand why the ex-Governor does not apologise to the general public and us tax payers that it was a bad judgment call like the bid for the Commonwealth Games, hosting IIFA, etc., and bow out gracefully rather than attempting to justify the impossible. Citizen Perera