There are no laws for private sector bribery - Sarath Jayamanne

by Staff Writer 23-03-2019 | 7:21 PM

Colombo (News 1st): Annual Students Conference 2019 Institute of Certified Management Accountants of Sri Lanka was held in Colombo this morning (March 23) under the auspices of Director of Commission to Investigate Allegations of Bribery or Corruption President's Counsel Sarath Jayamanne. Speaking at the event he noted that their anti-corruption laws are more than 25 years old and it does not have private sector bribery. President's Counsel Sarath Jayamanne went onto note,

"Only in Sri Lanka, only the public servants are culpable. If you go to Hong Kong and Malaysia, even in the private sector if you accept a bribe it is a criminal offense. So likewise we have to amend our bribery law, we have to amend our commission law. What do you mean by asset law? It means that even if you don't take bribes if the prosecution can show that you have certain assets that are not compatible with your income, then you will be charged for bribery."

The conference was held to mark the 20th anniversary of the Institute of Certified Management Accountants of Sri Lanka.