This follows a promise given by PM Ranil Wickremesinghe to parliament.
This is the first time proper action has been taken in connection with the various allegations leveled against the CB in the past 10 years or so.
During the previous regime, no investigation took place into the purchase of Greek bonds, misuse of EPF funds and issuance of local bonds at personal level and the media was barred from reporting on these matters.
Also, the COPE had not submitted its report to parliament, and instead allegedly protected the accused.
Wijedasa Rajapakse lost his COPE chairmanship as well as his party membership for having tried to make an honest attempt to inquire into the allegations.
When the allegations over the bond issue were first made, PM Wickremesinghe appointed a preliminary investigation committee and then asked COPE to look into the matter.
A SLFP minister said the present government has done an exemplary deed, when compared with its predecessor, in dealing with the allegations.