Business Times

Long wait for 100 GK depositors to get money back

At least 100 depositors of the defunct Golden Key (GK) Credit Card Company who submitted their details to the Central Bank are still to receive their first payment of 75% of their deposits or Rs.100,000 whichever is lower as their names have been deleted from a computer system, a senior official of the Central Bank said.

He noted that the payments were made to depositors after checking the authenticity of their claims by checking details in the GK-maintained IMAS computer system and their personnel files. If the names and details of depositors are not in the computer, the payments cannot be made until the verification process of the three member chartered accountants committee and the CID is completed, he added.

Retired Brigadier Neville Fernando, a GK depositor who came to know that his name had been deleted from the computer system, told the Business Times that he made inquiries from the Central Bank, and every time he received the same answer of this verification process which is going on since February this year. He said that he was depending on the interest payment of his deposit which was his hard-earned money. He urged the authorities to expedite the checking of files and the verification process.

The first installment of Golden Key deposit repayments worth Rs. 351 million to 3,863 cardholders with deposits less than Rs.2.5 million has been completed, the Central Bank official said. A sum of Rs. 250 million will be disbursed for the repayment of 2,500 cardholder with deposits exceeding Rs. 2.5 million under the second stage which will commence soon, he added.

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