The Central Bank of Sri Lanka (CBSL) has actually directed Kanrich Finance Limited (KFL) to settle its public liabilities completely, by the end of February 2023.

Appropriately, the Monetary Board of CBSL, as a procedure to enhance the Non-Bank Financial Institutions Sector under the Masterplan for Consolidation, decided to direct KFL to settle its public liabilities completely within 26 December 2022 and 28 February 2023, due to continuous capital deficiencies faced by KFL.

The aforesaid instructions was provided in the very best interest of depositors and promissory note holders of KFL, subsequent to securing procedures to have sufficient funds readily available for KFL to fully settle its public liabilities and further directing KFL to exit from the financing company after such settlement, CBSL kept in mind in a statement.Accordingly, KFL will takegptsettls go int T0 .

This short article very first appeared/also appeared in https://adaderana.lk