Deadline set for depositors of 3 failed financial entities to submit claims

The Central Bank announced the final date for the depositors of the three failed entities, The Finance PLC, ETI Finance Ltd and Swarnamahal Financial PLC, to submit their compensation claims.
In a notice to the public, the Central Bank’s Deposit Insurance and Resolution Department said a final date has been set for accepting the claims, under the Sri Lanka Deposit Insurance Scheme.
Accordingly, the compensation payments under the scheme to the eligible depositors will conclude on May 21, 2024 for The Finance PLC and July 12, 2024 for ETI Finance Ltd and Swarnamahal Financial PLC.

The department said the compensation for the depositors of the three financial entities will be concluded on the dates specified, due to the completion of the four years after the cancellation/suspension of the licence.
“All the depositors/legal beneficiaries of the eligible depositors, who are entitled to receive compensation payments but have not yet submitted their claims for compensation payments, subject to a maximum of Rs.1,100,000, are requested to claim their compensation from any branch of People’s Bank, prior to the above-mentioned dates, by producing the relevant documents,” the department said.