Swarnamahal Financial Services permitted to resume business for limited purpose

January 12, 2021 07:46 pm

The Monetary Board of the Central Bank of Sri Lanka (CBSL) has made an order permitting Swarnamahal Financial Services PLC to resume business notionally for a limited purpose and limited time under the supervision of the Panel of Management appointed by the Monetary Board (Panel of Management), subject to several strict conditions.

The permission has been granted in the public interest and in the interests of the depositors of the Company, for a limited period of three (03) months from 13th January 2021 to 12th April 2021, in terms of Section 31(5)(a) of Finance Business Act, No. 42 of 2011 (FBA).

This is only for the purpose of repayment up to fifty percent (50%) of the remaining deposits of the Company (repayment plan).

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