The Central Bank of Sri Lanka says compensation payments for insured depositors of CIFL commenced from August 27, 2018 in terms of Sri Lanka Deposit Insurance Scheme Regulation No.01 of 2010 (as amended) (SLDILSS Regulations).
The Monetary Board cancelled the license issued to Central Investment and Finance PLC (CIFL) with effect from March 05, 2018 in accordance with Section 37(3) of the Finance Business Act. The payment process will be continued until all eligible depositors of CIFL who have claimed their dues are paid. Therefore, eligible depositors are requested to wait patiently until CBSL officially inform the collection of their payment.
Further, with the Monetary Board decision to cancel the license of The Standard Credit Finance Ltd effective from July 25, the compensation payment for the eligible depositors will also be paid in terms of the SLDILSS Regulations in due course.
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