Regulatory Alerts2020-11-27 | Circular No.12 of 2020Amendment to Circular No. 11 of 2020 on Debt Moratorium for COVID-19 Affected Businesses and Individuals
The Central Bank of Sri Lanka issued Circular No. 12 of 2020 to amend the debt moratorium framework for businesses and individuals affected by the pandemic. The deadline for eligible borrowers to submit applications for relief was extended to December 10, 2020, while non-bank financial institutions must finalize and communicate decisions within 45 days of receipt. Additionally, Chief Executive Officers and Compliance Officers are now mandated to establish internal procedures for granting relief and instruct branch staff accordingly.
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