Depositors of failed Standard Credit requested to submit compensation claims

Depositors of the failed Standard Credit and Finance Ltd were on Wednesday informed by the Central Bank (CB) to submit their claims for compensation.

“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 once the notification is issued in the press and social media in due course,” the CB said in a public announcement.

It said the license issued to The Standard Credit and Finance Ltd (TSCFL) to carry on finance business has been cancelled with effect from 25.07.2018 in terms of the provisions of the Finance Business Act No. 42 of 2011.

The statement said the CB has taken steps to pay compensation under the Sri Lanka Deposit Insurance and Liquidity Support Scheme to the depositors of The Standard Credit and Finance Ltd. Compensation payments will be made in line with the provisions of Sri Lanka Deposit Insurance Regulations. Instructions on the application criteria will be notified through the print and social media.

The CB said further details in this regard may be obtained from the telephone numbers given here: 0112-398788 and  0112-477261 -  ENDS-