Commencement of Compensation Payment to CIFL Depositors

The Monetary Board cancelled the licence issued to Central Investment and Finance PLC (CIFL) with effect from 05.03.2018 in accordance with Section 37(3) of the Finance Business Act.

The Central Bank of Sri Lanka is pleased to announce the commencement of compensation payments for insured depositors of CIFL with effect from 27 August 2018 in terms of Sri Lanka Deposit Insurance Scheme Regulation No.01 of 2010 (as amended) (SLDILSS Regulations).

The payment process will be continued until all eligible depositors of CIFL who have claimed their dues are paid. Therefore, eligible depositors are kindly requested to wait patiently until CBSL officially inform the collection of their payment.

Further, with the Monetary Board decision to cancel the licence of The Standard Credit Finance Ltd effective from 25.07.2018, the compensation payment for the eligible depositors will also be paid in terms of the SLDILSS Regulations in due course.

Published Date: 

Monday, August 27, 2018