Home / Front Page/ Swarnamahal depositors get 10% repayment

Swarnamahal depositors get 10% repayment


Comments / {{hitsCtrl.values.hits}} Views / Wednesday, 11 July 2018 00:00


 

  • Central Bank calls on depositors to be patient till business restructured and cooperate withmonetary authority

 The Central Bank yesterday said that it has instructed Swarnamahal Financial Services PLC to immediately begin repayment of 10% of deposit liabilities.  The Monetary Board of the Central Bank of Sri Lanka (CBSL), having considered the requests of the depositors, instructed Swarnamahal Financial Services PLC (SFSP) to pay urgently 10% of deposit liabilities of SFSP commencing from Tuesday, the monetary authority said in a statement. 

“The details of the payment plan will be informed to depositors by SFSP shortly. The CBSL, while thanking all relevant parties for their assistance extended during the past six months, wishes to request all depositors to be patient until the business activities of SFSP are restructured and to cooperate with the Central Bank appointed management panel for the implementation of such activities. Further information with this regard will be communicated in due course.”


Share This Article


DISCLAIMER:

1. All comments will be moderated by the Daily FT Web Editor.

2. Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.

3. We may remove hyperlinks within comments.

4. Kindly use a genuine email ID and provide your name.

5. Spamming the comments section under different user names may result in being blacklisted.

COMMENTS

Today's Columnists

In the desert of Tamil films, actor Sivaji Ganesan was an oasis

Saturday, 22 September 2018

‘Indian Film,’ first published in 1963 and co-authored by former Columbia University Professor Erik Barnouw and his student Dr. Subrahmanyam Krishnaswamy, is considered a seminal study of the evolution and growth of Indian cinema. The book is cit


Imran may turn blind eye to blasphemy law and persecution of Ahmadiyyas

Saturday, 22 September 2018

There are clear signs that Pakistan’s freshly minted Prime Minister, Imran Khan, will make a sincere effort to reduce corruption and maladministration in the domestic sphere. In foreign affairs he is likely to make a brave attempt to mend fences wi


The rate of exchange, capital flight and the Central Bank

Friday, 21 September 2018

The Central Bank (CBSL) exists for the sole purpose of price stability. Its controls on the financial system and monetary policy exist to maintain price stability. As put forth many times by the Governor, the failing of the CBSL to control inflation


Red flag over the Sri Lankan Navy

Friday, 21 September 2018

Shocking story Rusiripala, a former banker in Sri Lanka, who has taken to writing in Daily FT, is perturbed by the red flag I have raised (Daily FT article 18 September) over the shocking charge that our Navy had operated a ransom gang that had abduc


Columnists More