Treasury grants advance of Rs4.5bn to pay Golden key depositors

Golden-Key-depositors

Oct 15, 2015 (LBO) – Sri Lanka’s cabinet has approved a proposal to release an advance of 3.94 billion rupees from the treasury to the Central Bank for the repayment of the second stage of Golden key depositors.

The second stage covers deposits from 2 to 10 million rupees.

The cabinet earlier approved a repayment schedule prepared by the Central Bank for resolving the difficulties confronted by the Golden key depositors.

As its first step the general treasury has granted an advance of 544.3 million rupees for the repayment to deposit holders who have deposits worth less than 2 million rupees.

These advances will be reimbursed to the treasury by liquidation of assets of the Golden Key Credit Card Company, the cabinet spokesman said.

Accordingly, the total advance for both stages will be about 4.5 billion rupees.