Monday, 12th April 2021

TKS Finance Limited license cancelled by Central Bank

Colombo, Sep 21 (BAN/ AD): On charges of violating rules central bank has cancelled license of TKS finance. Central bank has said TKSF performance was not satisfactory due to deficient capital level, poor asset quality, continuous losses.

Central bank had warned TKS Finance to comply by rules and provisions of the FBA and Directions and Rules issued.

Sri Lanka Deposit Insurance and Liquidity Support Scheme (SLDILSS) will take necessary actions to pay compensation to the insured depositors of TKSF up to a maximum of Rs. 600,000 per depositor as per the regulations of the SLDILSS.

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