Regulatory Alerts2021-03-12 | Circular No. 4 of 2021Concessions for Lease Facilities Obtained by Businesses and Individuals in Passenger Transportation Sector
The Central Bank of Sri Lanka directs Non-Bank Financial Institutions to grant lease payment deferments for up to six months starting 1 April 2021 to businesses and individuals in the passenger transportation sector affected by COVID-19. Eligible borrowers may request the deferment by 19 April 2021, with deferred installments extending the lease tenure and accruing interest capped at 11.5 percent per annum, while penal interest is waived during the deferment period. Non-Bank Financial Institutions must report monthly deferment details to the Department of Supervision within fifteen working days and ensure transparent interest computation and fee structures for all granted concessions.
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