Shorter Deadline

May 04, 2009 (LBO) – Sri Lanka’s central bank which is collecting information on assets of Golden Key Credit Card, a collapsed financial firm, said its officials and past officials should declare assets by May 05. The Central Bank brought forward the deadline following a court order on April 27 which required information to be submitted to court by May 11.

“In order to give effect to the said Order of the Supreme Court, it has become necessary to obtain the Declarations of Assets and Liabilities from the aforesaid persons on or before 05.05.2009,” the regulator said in a public notice.

The Central Bank at first gave time until May 15 to declare assets.

The court has ordered “every present and past director, chief executive officer, manager, employee and agent” of Golden Key Credit Card Company and “related and relevant parties” to declare their assets.

Golden Key was an unregulated institution, but the Supreme Court has said it should have been regulated and has ordered the central bank to get involved in the sale of assets and settling depositors.