ECONOMYNEXT – Sri Lanka’s central bank has issued a notice calling for banks and financial institutions to record the unique identification numbers of depositors before the deadline on December 31.
“It is advised that all individuals and entities obtain the required identification or registration documents from the relevant authorities and update their unique identification number information with the applicable Licensed Banks and Finance Companies,” the notice said.
The time period granted by the central bank for licensed banks and licensed finance companies to mandatorily record the unique identification numbers of their existing depositors in terms of operating instructions issued under the Banking (Special Provisions) Act, No. 17 of 2023, will expire on December 31 this year.
“All individuals and entities who have not yet obtained the required identification documents (primarily the National Identity Card for individuals) or completed registration with the relevant registration body, as outlined in the table below, are advised to urgently obtain their identification documents or registration documents and provide their identification numbers to the applicable Licensed Banks and Licensed Finance Companies before 31.12.2024.”
Failure to record the specified unique identification number, or the use of alternative identification numbers, may result in delays, inconvenience or even an inability to claim compensation under the Sri Lanka Deposit Insurance Scheme, in the event of the cancellation of a licence issued to a Licensed Bank or a Licensed Finance Company in which depositors have deposited your money.
The mandatory unique identification numbers that depositors are required to provide when opening or maintaining deposit accounts with Licensed Banks and Licensed Finance Companies are as follows:
(Colombo/Dec12/2024)
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