Regulatory Alerts2020-03-10 | Circular No. 1 of 2020Credit Support to Accelerate Economic Growth
The Central Bank of Sri Lanka has issued guidelines establishing a special credit support scheme for eligible Non-Performing borrowers of Licensed Finance Companies and Specialized Leasing Companies. The directive requires these institutions to waive penal interest, defer a portion of accumulated interest, and reschedule capital repayments over extended periods upon receiving written requests by 31 March 2020. Furthermore, LFCs and SLCs must maintain supporting documentation and submit monthly utilization reports to the regulator starting in April 2020.
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