CB to pay compensation to Standard Credit and Finance depositors

The Central Bank yesterday said it is taking steps to pay compensation to the depositors of The Standard Credit and Finance Ltd under the Deposit Insurance and Liquidity Support Scheme.
Instructions on the application criteria will be notified through the print and social media, the Central Bank said.
The licence issued to The Standard Credit and Finance Ltd to carry on finance business has been cancelled with effect from July 25, 2018, in terms of the provisions of the Finance Business Act No. 42 of 2011.

“The depositors of the Standard Credit and Finance Ltd are hereby informed to submit duly completed claim forms along with the required documentation to the Resolution and Enforcement Department of the Central Bank of Sri Lanka once the notification is issued in the press and social media in due course,” the Central Bank said.
Further details in this regard may be obtained from the telephone numbers by calling 0112-398788/                                                                       0112-477261.