Maximum Rs. 600,000 in compensation for ETI, Swarnamahal Financial Services depositors

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Central Bank of Sri Lanka (CBSL) has taken measures to pay the compensation payments to the depositors of ETI Finance Limited (ETIFL) and Swarnamahal Financial Services PLC (SFSP) from the Sri Lanka Deposit Insurance and Liquidity Support Scheme (SLDILSS).

The finance businesses of ETIFL and SFSP were suspended with effect from the 13th July 2020.

Accordingly, compensation payment is scheduled to commence from this Saturday (25) through selected branches of the People’s Bank Island wide, the CBSL said in a statement issued today (22).

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 compensations 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 statement read further.

The CBSL requests the depositors of ETIFL and SFSP 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:
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