Regulatory Alerts2018-10-01 | Direction No. 7 of 2018Measures to Curtail Import of Motor Vehicles
The Central Bank of Sri Lanka issued Finance Leasing Act Directions No. 07 of 2018 to curb motor vehicle imports and mitigate adverse exchange rate impacts. Effective 01 October 2018, specialized leasing companies must adhere to strict Loan to Value Ratios that vary by vehicle type, age, and power source. These regulations replace previous directives by capping credit facilities at specific percentages of market value, with lower limits applied to used cars and non-electric vehicles.
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