Regulatory Alerts2021-09-13 | Circular No. 10 of 2021Extension of Debt Moratorium for COVID-19 Affected Tourism Businesses and Individuals
The Central Bank of Sri Lanka has extended the debt moratorium for tourism sector businesses and individuals, requiring licensed banks to defer capital and interest payments from 1 October 2021 to 30 June 2022. Licensed banks must convert due amounts into term loans, waive unpaid penal interest on performing loans, and suspend recovery actions against non-performing facilities while offering flexible restructuring options. Borrowers must submit requests by 15 October 2021, and banks are mandated to process applications, report monthly, and provide written rejection notices with clear appeal pathways.
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