Compensation payments to the depositors of The Finance Company PLC are to be paid from 7th June, Minister Bandula Gunawardane announced.
Gunawardane said depositors can collect their payments at 60 People's bank branches Island-wide.
The payments will be made at the nearest People's Bank branches in the cities where The Finance Company's branches were located.
The license issued to The Finance Company PLC (TFC) to carry on finance business was cancelled with effect from 22nd of May in terms of the provisions of the Finance Business Act No. 42 of 2011.
The Central Bank of Sri Lanka (CBSL) on the 4th of June said it had taken steps to pay compensations up to Rs.600,000 to all insured depositors as per the Regulations of Sri Lanka Deposit Insurance and Liquidity Support Scheme.
The balance amount if any, will be settled after liquidation of properties belong to TFC. The compensation payments will be made through the People’s Bank as the agent bank appointed by CBSL for this purpose.
Compensation payment for 'The Finance Company' depositors to commence on 7th June
05 Jun 2020
Compensation payment for 'The Finance Company' depositors to commence on 7th June
05 Jun 2020
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