SCL takes to pawn brokering

The Standard Credit Lanka Ltd.(SCL) previously known as Ceylinco Investments and Reality Ltd. ventured into the pawn brokering business by launching ‘Ransavi’ at a ceremony at its premises on Thursday.

The SCL is a registered finance company managed by the Merchant Bank of Sri Lanka (MBSL). Chairman, MBSL, M.R.Shah said that SCL having gained confidence of depositors will excel in its business and will be a leading financial institution in the country.

MBSL was made the managing agent of SLC following the crisis that led to many financial institutions to crash in late 2008. “The confidence of depositors is an essential component without which no financial institution could survive. SCL has built confidence of customers who are the driving force of the company”, Shah said.

Deputy Governor Central Bank, Priyantha Fernando said the timely intervention of the Central Bank helped revive operations of the SCL and added that the success of the organisation will depend on retaining the confidence of depositors.

SCL commenced pawn brokering under a five-year business plan launched recently.

LF