Govt ponders move to help small investors
The government is exploring the possibility of introducing a scheme to protect the interests of small investors in private sector finance institutions.
Export Development and International Trade Minister Professor G. L. Peiris yesterday told The Island that the proposed scheme envisaged the financial institutions insuring investments upto about one million rupees with reputed insurance companies.
Asked whether this was aimed at Golden Key depositors, Peiris emphasised that his proposal would be part of the strategy to deal with a future crisis. He said that similar arrangements were place in Canada and the UK for the benefit of those who make relatively small investors.
The minister said that urgent measures were necessary to protect both investors and financial institutions.