The second stage of compensation payments to
Accordingly, such payments will be taken place at 63 branches of the
Under this second stage compensation to all the depositors confirmed by the TFC will be commenced from 2 July, the monetary authority said in a statement.
Upon cancellation of the finance business license of TFC by the Monetary Board of the
Accordingly, under the first stage of the payment mechanism, compensation payments to individual depositors who maintain only one account i.e. nearly 105,000 depositors in total were implemented. Under the second stage of the mechanism approximately another 38,000 depositors will be eligible to receive compensations.
The CBSL has taken all required measures to ensure that compensation procedure is implemented in an efficient and effective manner.
The depositors of TFC are hereby requested to extend their maximum cooperation towards this compensation program by submitting originals of deposit certificates, identification details and other required documents.
In respect of joint accounts, minor accounts, deposits converted into shares and deposits maintained in the names of corporates and societies, deceased depositors and depositors living abroad, the instances where loss of original deposit certificate/pass book, the absence of required identification documents etc., it will be required to submit affidavits, special forms and confirmations obtained from TFC as specified by the
Further details pertaining to the compensation to the depositors of TFC can be obtained from the following telephone numbers,
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