CBSL sets standards for NBFI depositor registration | Daily News

CBSL sets standards for NBFI depositor registration

The Central Bank of Sri Lanka has mandated that the Non-Banking Financial sector follow uniform rules in identifying depositors of all finance companies. The move comes to facilitate the compiling of information for the Deposit Insurance and Liquidity support scheme.

All existing depositors shall have to be reregistered in line with the uniform rules. The directive shall be enforced from 31 December 2023.

For Sri Lankan citizens in any form, the National Identity card shall serve as the identification. For non-Sri Lankan citizens, the foreign passport number shall serve as the unique identifier. For minor depositors, the date of birth alongside the birth certificate number shall be used.

For companies, the company registration number shall be used. For NGOs, the registration number under the National Secretariat for Non-Governmental organizations shall be used. For companies registered under local or divisional bodies, the business registration number shall be used. For all other entities, a registration number issued by the relevant parent authority should be used.

Over time the Central Bank is expected to set uniform standards for vehicle leasing arrangements alongside the Department of Motor Traffic to facilitate the securitization of leasing contracts. (DP)

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