Regulatory Alerts2019-06-04 | Finance Business Act Direction No. 2 of 2019Amendments to Directions on Loan to Value Ratios for Credit Facilities Granted in Respect of Motor Vehicles
The Central Bank of Sri Lanka issued Directions No. 2 of 2019 to regulate loan to value ratios for motor vehicle credit facilities granted by Licensed Finance Companies. The directive establishes specific maximum lending percentages based on vehicle type, registration status, and fuel classification, while mandating that concessionary imports be valued based on proforma invoices. Additionally, the previous Directions No. 09 of 2018 concerning motor vehicle import curtailment measures were withdrawn effective immediately.
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