Swarnamahal Financial Services operations allowed, but restricted

The Monetary Board of the Central Bank of Sri Lanka has allowed Swarnamahal Financial Services PLC (SFSP) to operate for a limited time on a conditional basis to repay up to fifty percent (50%) of the remaining deposits of the company (repayment plan) under the supervision of the Panel of Management appointed by the Monetary Board.

The CBSL said that SFSP had taken measures to repay depositors and 50% of the remaining value of deposits of SFSP, after deducting 30% repayment already made and the eligible compensation under the Sri Lanka Deposit Insurance and Liquidity Support Scheme, will be repaid commencing from 3rd February 2021.

The repayments will be made only at the Head Office Branch of SFSP at No. 5, R. A. de Mel Mawatha, Colombo 4