Compensation Payments to the depositors of The Finance Company PLC - Second Stage

Sri Lanka, June 29 -- The Central Bank of Sri Lanka (CBSL) has taken measures to commence the second stage of the compensation payments to the depositors of The Finance Company PLC (TFC) with effect from 02.07.2020. Accordingly, such payments will be taken place at 63 branches of the People's Bank Island wide. In terms of this compensation mechanism Rs. 600,000/- is paid per depositor basis.

Under this second stage compensation to all the depositors confirmed by the TFC will be commenced from 02.07.2020.

Upon cancellation of the finance business license of TFC by the Monetary Board of the Central Bank of Sri Lanka, compensation payments to the depositors/legal beneficiaries of depositors of the TFC from the Sri Lanka Deposit Insurance and...