The central bank and law enforcement authorities are probing the Employees' Provident Fund, a retirement fund of private sector workers which is managed by state workers.

The Central Bank's governing Monetary Board said it was conducting its own investigation into deals made in the EPF. The law enforcement authorities have also been requested to carry out an external independent investigation into the issuance of Government securities in 2015 and 2016 and related matters, as it involves examining internal operations carried out by the staff of the Central Bank.

The central bank said it was taking action to fix the management of the EPF. With regard to the operations of the EPF, the Monetary Board, during the past six months, has taken several measures to strengthen the decision making process with respect to investments.