The Deposit Protection Society of The Standard Credit Finance Ltd (formerly CIRL) has written to Central Bank (CB) Governor Ajith Nivard Cabraal seeking a meeting to discuss the crisis pertaining to the institution after failing to meet the Governor at a scheduled meeting.
In a letter to the Governor, the association said:
“At the outset let us thank you for kindly consenting to meet a chosen few of us who represent the aggrieved depositors of this registered finance company who have been in dire straits for the past five years since the unfortunate collapse of the company.
We however wish to inform you, that to our utter chagrin, after presenting ourselves at the CB for the long awaited meeting with your goodself as prayed for by us, on the 4th September 2013, and having been kept waiting for over 45 minutes, anxiously cooling our heels, we were called in and told by H.M. Ekanayake, Director – Department of Supervision of Non-Bank Financial Institutions that you were called away on urgent assignment, and that he too, had to follow and that no meeting could be held on that occasion, although we observed and were told, that the Directors of Entrust Ltd, the Managing Agents, and the Directors of The Standard Credit Lanka Ltd, who were present there, had already been discussing matters with you prior to ourselves being called in.
As such, we the already battered depositors, who are mostly in the sunset years of our lives whose hard earned monies are at stake, are genuinely disappointed, that we could not even get a word of our side of the story across to you on this occasion, and came away sad and sorry at this pitiable turn of events. Whilst reminding you that our depositor group which numbers over 3000, and are mostly senior citizens of Sri Lanka, are getting restless and feeling insecure at this plight of theirs, they are advocating more serious actions, like protest actions and marches,
A petition to the President and the presentation of our grievances to the Parliament are alternative forms of obtaining redress in this long outstanding matter.”