Deposit insurance cover increased to Rs 300,000

In line with the decision announced in Budget 2015 to increase the deposit insurance cover by fifty percent, the Sri Lanka Deposit Insurance and Liquidity Support Scheme (SLDILSS) will increase its deposit insurance coverage per depositor per institution from Rs. 200,000 to Rs. 300,000 from January 1, 2015. The regulations on the revised insurance cover has been published in Gazette Extraordinary No. 1891-11 of December 2, 2014 under the 'Sri Lanka Deposit Insurance and Liquidity Support Scheme Regulations, No. 1 of 2014'.

SLDILSS was set up in October 2010 in the interest of the overall financial system stability of the country to protect depositors from failure of financial institutions and thereby promote the stability of financial institutions by maintaining depositor confidence.

It is operated and managed by the Monetary Board of the Central Bank.