ETI & Swarnamahal Finance depositors to be compensated : CBSL

Accordingly, compensation payment will commence from Saturday 25th July 2020 through selected branches of the People’s Bank Island wide.

In terms of the regulations of the Sri Lanka Deposit Insurance and Liquidity Support Scheme (SLDILSS), maximum compensation of Rs. 600,000/- per depositor will be paid through 45 branches of People’s Bank Island wide.

Finance businesses of ETI Finance Limited (ETIFL) and Swarnamahal Financial Services PLC (SFSP) were suspended with effect from 13th July 2020.

Accordingly, the necessary funds for paying compensation to all the depositors/ legal beneficiaries confirmed by ETIFL and SFSP has already been allocated by SLDILSS and the CBSL has taken all required measures to ensure the compensation procedure is implemented in an efficient and effective manner.

The depositors of ETIFL and SFSP are requested to extend their maximum cooperation towards this compensation payment programme by submitting originals of deposit certificates, identification details and other required documents to the respective branch of People’s Bank.

Further details pertaining to the compensation to the depositors of ETIFL and SFSP can be obtained from the following telephone numbers;