Disgruntled depositors of The Standard Credit and Finance Ltd (TSCFL) are to be compensated under the Sri Lanka Deposit Insurance and Liquidity Support Scheme, the Central Bank announced on Friday (07).
Compensation payments will be made in line with the provisions of the Sri Lanka Deposit Insurance Regulations. Instructions on the application criteria will be notified through print and social media, the Central Bank added.
The depositors of the Standard Credit and Finance Ltd. have been informed to submit their 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 media in due course.
The license issued to the TSCFL to carry on finance business has been cancelled with effect from 25.07.2018 in terms of the provisions of the Finance Business Act No. 42 of 2011.
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