Administration Rationalization and Investigations into Prohibited Schemes
This Press Release is issued to clear any misconception that may arise as a result of a misleading report published on Sunday, 5th November 2006 by a certain newspaper.
With the objective of rationalizing the work of departments within the Central Bank, the Monetary Board at its meeting on Friday 25th August 2006, made several changes in the allocation of responsibilities and duties.
Accordingly, several departments/units which were hitherto reporting to the two Deputy Governors were placed under the responsibility of the Governor while the departments pertaining to Economic and Price Stability and the departments pertaining to Financial System Stability were placed under the responsibility of the two Deputy Governors, respectively.
Amongst the departments and units placed under the responsibility of the Governor was the Special Investigations Unit (SIU), which had been set up in 2005 to undertake sp