Regulatory Alerts2020-04-24 | Explanatory Note No. 2 of 2020Interpretations for Circular No. 04 of 2020 and No. 05 of 2020
The Central Bank of Sri Lanka issued this note to clarify that loan facilities with non-standard names, such as term loans or leases, are eligible for COVID-19 moratoriums if they support sectors identified in Circular No. 05 of 2020. Lending Financial Companies and Small Lending Companies are instructed to grant relief to customers who can provide sufficient documentary proof that their income or business was adversely affected by the pandemic. This directive ensures that eligibility is determined by the underlying purpose and impact of the facility rather than its specific nomenclature.
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