Regulatory Alerts2020-07-16 | Circular No.07 of 2020Relief Measures to Assist Covid-19 Affected Business and Individuals
The Central Bank of Sri Lanka issued Circular No. 07 of 2020 to provide relief to tourism sector businesses and individuals affected by the pandemic. Licensed financial institutions are required to extend the moratorium period for capital outstanding on leasing facilities for tourism-related vehicles from six to twelve months. Additionally, institutions may recover interest during this period in a manner convenient to borrowers and must waive accrued penal interest on these specific facilities.
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