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.

This press statement aims to create public awareness about the operational and policy measures undertaken by the Central Bank of Sri Lanka thus far during 2020, to support the economy, the financial system and the general public in the midst of the COVID-19 pandemic. Being the apex financial institution of the country, the Central Bank provided its full scope of essential services to the economy and the financial system during the lockdown. The Central Bank actively took steps to ease the burden on the general public during this unprecedented disruption of global scale, while preserving the focus on its legal mandate to maintain economic, price and financial system stability.