The Supreme Court of the island nation of Sri Lanka began April 20 hearing appeals of a bill to create a special economic zone in the port city of Colombo. The plan would carve out an enclave for China to operate a casino, financial operations and entertainment on an island that will be created on 2.6 square kilometers of reclaimed land.
The appeal is challenging the constitutionality of the Colombo Port City Economic Commission Bill would, if upheld would lead to the creation of what has been called “Sri Lanka’s new Dubai.”
Five justices will consider the appeal. One basis of the challenge, made by the Center for Policy Alternatives and Transparency International Sri Lanka (TISL), is that international law doesn’t recognize artificial islands as sovereign territory.
Counsel Kanag-Isvaran, appearing for TISL stated, “Offshore banking businesses are not subjected to banking laws in the country. The banking laws and company act regulations would not apply to this specific territory. The monetary board would have no oversight over offshore banks. This will be a heaven for casino and money laundering.”
He added that the bill would take away representation from citizens of the Republic living on the island.
Petitioners also seek a declaration from the court that the bill would require assent by a two-thirds majority of the Parliament.
