Regulatory Alerts2020-11-09 | Circular No.10 of 2020Debt Moratorium for COVID-19 Affected Businesses and Individuals
The Central Bank of Sri Lanka directs licensed banks to extend a six-month debt moratorium starting 1 October 2020 for COVID-19 affected businesses and individuals. The directive mandates the conversion of due capital and interest into term loans with capped interest rates, waived penal charges, and minimum repayment periods of twelve to twenty-four months. Eligible borrowers across tourism, exports, SMEs, and foreign currency earners must submit applications by 30 November 2020 to access these concessions.
Share