ETI and Swarnamahal depositors to be compensated from July 25

Central Bank of Sri Lanka (CBSL) has taken measures to pay maximum compensation of Rs. 600,000 per depositor of ETI Finance Limited (ETIFL) and Swarnamahal Financial Services PLC (SFSP) from July 25.

The CBSL in a statement said the compensation payments will be paid from the Sri Lanka Deposit Insurance and Liquidity Support Scheme (SLDILSS), upon suspension of the finance businesses of ETI Finance Limited (ETIFL) and Swarnamahal Financial Services PLC (SFSP) with effect from July 13, 2020.

“Accordingly, compensation payment will be paid through 45 selected branches of the People’s Bank Island wide.

Accordingly, the necessary funds for paying compensations to all the depositors/ legal beneficiaries confirmed by ETIFL and SFSP has already been allocated by SLDILSS and the CBSL has taken all required measures to ensure that compensation procedure is implemented in an efficient and effective manner.

The depositors of ETIFL and SFSP are hereby requested to extend their maximum cooperation towards this compensation payment programme by submitting originals of deposit certificates, identification details and other required documents to the respective branch of People’s Bank.  

Further details pertaining to the compensation to the depositors of ETIFL and SFSP can be obtained from the following telephone numbers.

People’s Bank: 0112 481 594, 0112 481 320, 0112 481 617, 0112 481 703 and the Central Bank of Sri Lanka: 0112 398 788, 0112 477 261,” the CBSL said.