Greater relief finally for Golden Key depositors

Saturday, 25 July 2015 00:00 - - {{hitsCtrl.values.hits}}

1-DSC_7040 2-DSC_6951 3-DSC_6978

The Government yesterday began the disbursement of payments to deposit holders of the defunct Golden Key Credit Card Company Ltd.

This is following the Cabinet of Ministers approving last week for the payment schedule proposed by the Finance Minister in order to solve the longstanding issues faced by the GK depositors. Accordingly, the depositors who have had their account balance up to Rs. 2 million are to be paid within one month from 24 July.

Given the importance of the relief scheme, the ceremony to handover payment was attended by both President Maithripala Sirisena and Prime Minister Ranil Wickremesinghe along with Finance Minister Ravi Karunanayake.

The General Treasury has provided Rs. 544.3 million needed for this first tranche and the recovery of this fund will be made through the liquidation of the assets of GK with the permission of the Supreme Court where a petition in this regard is being heard.

The Supreme Court had earlier given a ruling to pay 41% of the account balance to the depositors. Earlier in January this year, all depositors of GK were given an interim payment up to Rs. 300,000 irrespective of their account balance.

The Government has also decided to settle the dues of those who have deposits below Rs. 10 million within the next two months and those of above Rs. 10 million within one year. Accordingly, a further sum of over Rs. 7,000 million is needed and Minister Karunanayake has proposed that funds for these payments could be recovered from liquidation of the assets of Golden Key and the profits transferred from the Central Bank.

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.