Regulatory Alerts2018-06-05 | Banking Act Directions No. 3 of 2018Amendments to Directions on Loan to Value Ratios for Credit Facilities Granted in Respect of Motor Vehicles
The Central Bank of Sri Lanka has amended its Banking Act Directions on loan-to-value ratios for motor vehicle credit facilities. The updated rules exempt tourism and transportation companies purchasing operational vehicle fleets, along with government agencies using specified finance leasing methods, from standard limits. Licensed banks must establish internal caps and implement robust risk management procedures to oversee these exempted facilities.
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