Central Bank Governor Dr. Nandalal Weerasinghe emphasizes that it is completely illegal for plantation companies to take deposits from the public by promising various benefits.
No Central Bank Approval: There is no permission, approval or recognition mechanism from the Central Bank of Sri Lanka for such deposit taking methods.
If money has already been invested in such projects, it is advised to take steps to withdraw it immediately, and if there are any obstacles in withdrawing it, to immediately complain to the police or the Central Bank.
According to Sri Lankan law, in order to accept public deposits, an institution must be registered as a ‘finance company’, and without such registration, taking deposits is a punishable offense.
