Compensation for The Standard Credit and Finance depositors: CB

Thursday, 6 December 2018 00:57 - - {{hitsCtrl.values.hits}}

Requests depositors to submit claim forms once notification is issued

The Central Bank yesterday notified depositors of Standard Credit and Finance to submit duly completed claim forms to receive compensation under the deposit insurance regulations.

The licence issued to The Standard Credit and Finance Ltd. (TSCFL) to carry on finance business has been cancelled with effect from 25 July 2018 in terms of the provisions of the Finance Business Act No. 42 of 2011.

The Central Bank has taken steps to pay compensation under the Sri Lanka Deposit Insurance and Liquidity Support Scheme to the depositors of The Standard Credit and Finance Ltd.

Compensation payments will be made in line with the provisions of the Sri Lanka Deposit Insurance Regulations. Instructions on the application criteria will be disseminated through print and social media.

Depositors of The Standard Credit and Finance are hereby informed to submit duly completed claim forms along with the required documentation to the Resolution and Enforcement Department of the Central Bank once the notification is issued in the press and social media in due course.

Further details in this regard may be obtained by calling 011 2398 788 or 011 2477 261.