The licence issued to The Standard Credit and Finance Ltd.(TSCFL) to carry on finance business was cancelled on July 25, 2018 in terms of the provisions of the Finance Business Act No. 42 of 2011.
The Central Bank of Sri Lanka has taken steps to pay compensation under the Sri Lanka Deposit Insurance and Liquidity Support Scheme to the depositors of 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 depositors of the Standard Credit and Finance Ltd. should submit duly completed claim forms along with the required documentation to the Resolution and Enforcement Department of the Central Bank of Sri Lanka once the notification is issued in the press and social media in due course