Regulatory Alerts2021-10-06 | Circular No. 9 of 2021Extension of Concessions for COVID-19 Affected Businesses and Individuals
The Central Bank of Sri Lanka mandates Non-Bank Financial Institutions to extend COVID-19 relief concessions to eligible borrowers facing income loss or business closure. Borrowers may select credit restructuring with interest rate caps, early settlement with waived future charges, or an extended moratorium until March 2022, while lenders must suspend recovery actions and adjust Credit Information Bureau reporting to preserve borrower credit scores. Applications are due by November 1, 2021, with institutions required to communicate options promptly and accept justified late submissions to ensure consistent sector-wide relief.
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