Regulatory Alerts2025-01-01 | Circular No. 1 of 2025Addendum to Circular No. 04 of 2024 on Relief Measures for SMEs
The Central Bank of Sri Lanka issued this addendum to clarify and standardize the implementation of SME relief measures across all licensed banks. It mandates the establishment of dedicated Relief Banking Units and permits the case-by-case rescheduling of eligible borrowers' credit facilities for up to ten years based on repayment capacity and agreed interest rates. Furthermore, the directive requires banks to implement transparent grievance mechanisms for property valuation disputes and submit monthly reports detailing borrower rescheduling status, interest waivers, and outstanding balances.
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