Central Bank revokes finance company licence

The Central Bank of Sri Lanka revoked the finance business licence of Nation Lanka Finance PLC effective from today (3), marking the final stage of a resolution process that began in July 2025.

This decision followed persistent violations of the Finance Business Act and a failure to secure a viable path for the company's revival despite various attempts to attract investors or stable financial institutions.

The Sri Lanka Deposit Insurance Scheme will compensate insured depositors up to a maximum of Rs. 1,100,000 each. This measure covers the full amount for approximately 99.1% of depositors, while the remaining 0.9% will receive the maximum compensation as a partial settlement.

Depositors must submit claims within six years, by 2 July 2032, and should prepare their original deposit certificates and identification documents for the upcoming payment process.

The company will now undergo liquidation proceedings in accordance with the Banking (Special Provisions) Act.

Debtors must continue to settle their dues on time by making payments strictly to the designated bank account of Nation Lanka Finance PLC and retaining all necessary records to prevent potential legal proceedings.