Central Bank of Sri Lanka issues directions requiring SLDIS member institutions to display deposit insurance membership and LKR 1.1 million coverage within six months

The Central Bank of Sri Lanka issued directions to member institutions of the Sri Lanka Deposit Insurance Scheme (SLDIS) requiring them to publicly disclose their SLDIS membership and the deposit insurance coverage limit, including through a standard SLDIS message indicating protection for eligible deposits up to LKR 1,100,000 per depositor. The directions require dissemination of the SLDIS message, preferably in Sinhala, Tamil and English or at least in one of these languages, via multiple channels including ATM screens, websites and other e-platforms and social media, prominent physical displays at the entrances and teller areas of deposit-taking premises and in ATM booths, printed pamphlets and promotional materials, TV or LED advertising, and account statements and electronic communications (including the email body of e-statements). Institutions must also publish a link to the SLDIS webpage on their websites, provide SLDIS FAQs or link to the SLDIS FAQs and keep these current and consistent with the scheme’s FAQs, promptly post CBSL-provided awareness materials, and train frontline staff on basic deposit insurance information and related requirements. Materials must be updated if the coverage limit changes or CBSL revises the format, and the colour scheme of the SLDIS message must not be changed except for limited black-and-white use. All SLDIS member institutions must comply within six months from the date the directions were issued.