Regulatory Alerts2017-05-29 | Circular No. 03 of 2017Concessions in Respect of Credit Granted to Flood Affected Borrowers
The Central Bank of Sri Lanka requires licensed banks to grant case-by-case concessions, including a three-month moratorium and penal interest waiver, to borrowers affected by recent floods. Banks must maintain supporting documentation for these credit facility adjustments and report borrower details using the prescribed format by 30 June 2017. These measures aim to facilitate business rehabilitation and restore normal operations in the national interest.
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