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Swarnamahal depositors get 10% repayment

Swarnamahal depositors get 10% repayment

Central Bank calls on depositors to be patient till business restructured and cooperate withmonetary authority

The Central Bank yesterday said that it has instructed Swarnamahal Financial Services PLC to immediately begin repayment of 10% of deposit liabilities. The Monetary Board of the Central Bank of Sri Lanka (CBSL), having considered the requests of the depositors, instructed Swarnamahal Financial Services PLC (SFSP) to pay urgently 10% of deposit liabilities of SFSP commencing from Tuesday, the monetary authority said in a statement.

“The details of the payment plan will be informed to depositors by SFSP shortly. The CBSL, while thanking all relevant parties for their assistance extended during the past six months, wishes to request all depositors to be patient until the business activities of SFSP are restructured and to cooperate with the Central Bank appointed management panel for the implementation of such activities. Further information with this regard will be communicated in due course.”

(FT)

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