• Increase font size
  • Default font size
  • Decrease font size

Press briefing of Cabinet Decision taken on 2015-06-17
Proposed Repayment Mechanism for the Security Deposit Holders of the Golden Key Credit (GKC) Card Company Ltd.

- It has been proposed to grant relief to the depositors of Non-Bank Inactive Financial Institutions by the Supplementary Budget - 2015 and the Minister of Finance has had several meetings in this regard with the relevant stakeholders. Accordingly, the proposal made by Hon. Ranil Wickramasinghe, the Minister of Policy Planning, Economic Affairs, Child, Youth and Cultural Affairs to repay the depositors who have maintained security deposits up to Rs.2 million in the GKC Card Company Ltd. within a month and thereafter, to liquidate the assets of the GKC Company Ltd. for repayment of the further amounts to be paid and to make provision in collaboration with the General Treasury for the repayment of deposits based on the proposal submitted by the Minister of Finance, was approved by the Cabinet.