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New measures to safeguard TFC depositors

ITN News Editor
By ITN News Editor May 15, 2019 19:32

New measures to safeguard TFC depositors

The Monetary Board of the Central Bank of Sri Lanka initiated a number of regulatory actions, as temporary measures, under the provisions of Finance Business Act, on The Finance Company PLC with a view to safeguard the interests of the depositors and other stakeholders of the company.

Regulatory measures include suspension of accepting new deposits, withdrawal of deposits and disbursement of loans and advances to facilitate the restructuring process of TFC. The Monetary Board of the Central Bank has decided to extend in order to consider the business restructuring proposal submitted by the company. Interest due on deposits will be paid continuously. The depositors may contact the Department of Supervision on Non-Bank Financial Institutions of the Central Bank of Sri Lanka through 0112 477 573, 0112 477 229, 0112 477 504 or snbfi_query@cbsl.lk for further clarifications.

ITN News Editor
By ITN News Editor May 15, 2019 19:32

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