Australia's central bank officials under parliamentary spotlight | Connect Asia

Australia's central bank officials under parliamentary spotlight

Australia's central bank officials under parliamentary spotlight

Posted 29 August 2011, 16:51 AEST

Officials from Australia's central bank have answered questions about an Asian banknotes bribery scandal while appearing before a parliamentary committee.

The Reserve Bank has a stake in two banknote firms that have been charged over alleged bribery for contracts in Vietnam, Indonesia and Malaysia.

On Friday, bank officials were asked why the bank's wholly-owned subsidiary Note Printing Australia did not refer the matter to police when it sacked its agents in 2007.

The bank's deputy governor Ric Battellino told the committee that an internal audit by the law firm Freehills, had found no Australian laws had been broken.

He's also dismissed suggestions that board members should have known about bribery allegations against the bank's part-owned firm, Securency.

The Greens' member of parliament Adam Bandt was asking the questions today. He spoke to Joanna McCarthy after the hearing.

Correspondent: Joanna McCarthy

Speaker: Adam Bandt, Greens MP, Australian parliament

Contact the studio

Got something to say about what you're hearing on the radio right now?

Text/SMS
Send your texts to +61 427 72 72 72

Tweets
Add the hashtag #raonair to add your tweets to the conversation.

Email
Email us your thoughts on an issue. Messages may be used on air.