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The Sri Lankan central bank has issued a statement asking all credit card holders of the Golden Key Credit Card Company Ltd, to pay their total outstanding balances to the bank. The bank has sent cardholders reminders to pay their total outstanding balances immediately to the Golden Key dedicated account opened at the Bank of Ceylon, according to the statement. Earlier this year, Golden Key was embroiled in a credit card fraud scheme that saw the company illegally providing credit cards to holders on deposits made by them to the company. However, the company was unable to repay the sums due to the depositors, which brought down the company. "Depositors should not be alarmed as they request to reduce dues from their deposits under the repayment plan," a central bank official said in the statement. According to the bank, a total of 844 million rupees (US$7.4 million or 5 million euros) in credit card dues is outstanding. "We are concerned [about] these letters," a spokesperson for the Golden Key Depositors Association, formed after the fraud came to light, tells CardLine Global. "Many of our depositors are not in a position to pay back anything as they lost a fortune in those deposits."
