Regulatory Alerts2019-06-20 | Explanatory Note No. 2 of 2019Interpretations for Circular No. 07 of 2019 on Concessions Granted to Tourism Industry
The Bank Supervision Department issued these interpretations to clarify eligibility and operational requirements for tourism sector borrowers accessing moratorium concessions under Circular No. 07 of 2019. Unregistered tourism service providers must now register with the Sri Lanka Tourism Development Authority to qualify, while licensed banks may grant capital-only, interest-only, or combined moratoria with flexible conversion and maturity extension options. Concessionary interest rates are capped at the latest 364-day Treasury Bill auction rate plus one percent for repayment periods up to two years, and banks must submit weekly cumulative concession reports by Wednesday using the prescribed format.
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