The Central Bank of Sri Lanka (CBSL) has announced that compensation payments for insured depositors of Nation Lanka Finance PLC (NLFP) will commence from August 1 through selected branches of People’s Bank.
According to the CBSL, compensation will be provided to insured depositors under the Sri Lanka Deposit Insurance Scheme (SLDIS), with payments limited to a maximum of Rs. 1.1 million from the total deposits held by each depositor.
The compensation will be paid through over-the-counter cash payments, by crediting funds to existing People’s Bank accounts, or by opening new accounts at People’s Bank for eligible depositors.
The Central Bank stated that insured depositors or legal beneficiaries of NLFP depositors can submit claims for compensation until July 2, 2032, in accordance with the provisions of the Banking (Special Provisions) Act, No. 17 of 2023 (BSPA).
The finance licence issued to Nation Lanka Finance PLC under the Finance Business Act, No. 42 of 2011 was cancelled effective July 3, 2026, by the CBSL under Section 66(2) of the BSPA.
Depositors who already maintain People’s Bank accounts and have NLFP deposits below Rs. 5,000 have been instructed to submit completed claim forms along with required documents via email to [email protected].
Other insured depositors must submit completed claim forms and supporting documents, including original deposit certificates, identification documents and other relevant records, to designated People’s Bank branches during the specified dates and times.
The CBSL further noted that joint account holders must submit separate claim forms, while depositors unable to submit claims personally may do so through legally authorised Power of Attorney holders.
Claim forms, instructions and frequently asked questions regarding the compensation process are available on the CBSL website, while copies of the forms can also be obtained from selected People’s Bank branches.
More information can be obtained from the CBSL Head Office on the following telephone numbers and address:
The Director – Deposit Insurance and Resolution Department
Central Bank of Sri Lanka, No. 30, Janadhipathi Mawatha, Colombo 01.
For further inquiries: 011-2477 294, 011-247 7261 | Hotline – 1935 | Email – [email protected]
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