Regulatory Alerts2020-04-28 | Circular No. 6 of 2020Amendment to Circulars No. 4 and 5 of 2020
The Central Bank of Sri Lanka issued amendments to Circulars No. 4 and 5 of 2020 to extend critical COVID-19 relief provisions for businesses and individuals. Licensed banks must now extend the validity period of cheques under Rs. 500,000 until 15 May 2020 as mandated by the revised Circular No. 4. Eligible borrowers are also granted an extended deadline of 15 May 2020 to submit requests for concessions under the Rs. 50 billion six-month re-financing facility outlined in Circular No. 5.
MONETARY BOARD CENTRAL BANK OF SRI LANKA
28 April 2020
CIRCULAR
No. 06 of 2020
AMENDMENT TO CIRCULARS No 04 and 05 of 2020
The Central Bank of Sri Lanka issues the following amendments to Circular No. 04 of 2020 on Relief Measures to Assist COVID-19 Affected Businesses and Individuals and Circular No. 05 of 2020 on Rupees 50 billion, Six-month Re-financing Facility to Support COVID-19 Hit Businesses Including Self-employment and Individuals dated 24.03.2020 and 27.03.2020, respectively.
Paragraph 5 of Circular No. 04 of 2020 is amended as follows:
- Licensed banks shall extend the validity period of cheques valued less than Rs. 500,000 until 15.05.2020.
Paragraph 2(iv) of Circular No. 05 of 2020 is amended as follows:
- (iv) The deadline for submission of request by eligible borrowers to avail concessions under these Schemes has been extended till 15.05.2020. Other clauses of this paragraph remain unchanged.
(Signature) Prof. W D Lakshman Chairman of the Monetary Board and Governor of the Central Bank of Sri Lanka