Depositors of failed Central Investments and Finance PLC (CIFL) will receive up to a maximum of Rs.600, 000 per depositor following the cancellation of the finance company’s license, the Central Bank said.

As per the regulations of the Sri Lanka Deposit Insurance and Liquidity Support Scheme, all insured deposits of CIFL will receive this benefit. CIFL’s license to conduct financial activities was revoked this week by the Central Bank since the company was not able to find an investor, after it had faced problems over mismanagement and fraud.