Regulatory Alerts2020-01-13 | Circular No. 01 of 2020Credit Support to Accelerate Economic Growth
The Central Bank of Sri Lanka mandates licensed banks to implement a special credit support scheme for eligible Small and Medium Enterprises from January 1, 2020, to December 31, 2020. The scheme requires participating banks to grant capital moratoriums, extend loan tenures, waive penal interest on non-performing loans, and defer asset recovery actions while ensuring borrowers continue servicing interest. Additionally, the regulator introduces a credit guarantee scheme covering up to 75% of new lending and adjusts Credit Information Bureau reporting to prevent negative impacts on borrowers' credit scores.
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