Regulatory Alerts2021-02-17 | Finance Business Act Directions No.02 of 2021Amendments to Directions on Loan to Value Ratios for Credit Facilities Granted in Respect of Motor Vehicles
The Central Bank of Sri Lanka issued Finance Business Act Directions No. 02 of 2021 to amend loan-to-value ratios for motor vehicle credit facilities granted by Licensed Finance Companies. These directions replace specific provisions in the previous 2020 amendments to establish an 80 percent loan-to-value ratio for registered vehicles used in Sri Lanka for more than one year. The directive was signed by Governor Prof. W D Lakshman under Section 12 of the Finance Business Act, No. 42 of 2011.
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