Rs 600,000 maximum compensation for ETI, SFSP depositors

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Compensation of a maximum of Rs 600,000 will be paid to depositors of ETI and Swarnamahal Finance Services PLC from July 25, the Central Bank announced yesterday.

Issuing a press release, the Central Bank said that the payments would be facilitated through 45 People’s Bank branches islandwide.

“The Central Bank of Sri Lanka (CBSL) has taken measures to pay the compensation payments to the depositors of ETIFL and SFSP from the Sri Lanka Deposit Insurance and Liquidity Support Scheme (SLDILSS), upon suspension of the finance businesses of ETI Finance Limited (ETIFL) and Swarnamahal Financial Services PLC (SFSP) with effect from July 13.

“Accordingly, compensation payment will be commenced from Saturday (25) through selected branches of the People’s Bank Island wide. In terms of the regulations of the SLDILSS, maximum compensation of Rs. 600,000 per depositor will be paid through 45 branches of People’s Bank Island wide.

“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 that compensation procedure is implemented in an efficient and effective manner.

“The depositors of ETIFL and SFSP are hereby 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,” the Central Bank said in the press statement.

Further details pertaining to the compensation to the depositors of ETIFL and SFSP can be obtained from the following telephone numbers. People’s Bank: 0112 481 594, 0112 481 320, 0112 481 617, 0112 481 703 Central Bank of Sri Lanka: 0112 398 788, 0112 477 261

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