RegAlert

Rule · CBSL · 28 Jun 2019 · Banking Act Directions No. 5 of 2019

Amendments to Loan-to-Value Ratio Directions for Motor Vehicle Credit Facilities

credit

The Central Bank of Sri Lanka has amended its Banking Act Directions to establish an 80 percent loan-to-value ratio for unregistered non-electric Class B motor cars. This provision specifically applies to vehicles financed under the Mini Taxi concessionary loan scheme of the Enterprise Sri Lanka programme. The amendment formally inserts a new regulatory clause into the existing framework, thereby expanding credit facility eligibility for qualifying motor vehicles.

Sri LankaCentral Bank of Sri Lanka

CENTRAL BANK OF SRI LANKA
BANK SUPERVISION DEPARTMENT

28 June 2019 | BANKING ACT DIRECTIONS | No. 05 of 2019

AMENDMENTS TO DIRECTIONS ON LOAN TO VALUE RATIOS FOR CREDIT FACILITIES GRANTED IN RESPECT OF MOTOR VEHICLES

Banking Act Directions No. 04 of 2019 on Loan to Value Ratios for Credit Facilities Granted in Respect of Motor Vehicles are amended as follows:

  1. The following Direction is inserted immediately after Direction 1(i)(b) of the Banking Act Directions No. 04 of 2019 on Loan to Value Ratios for Credit Facilities Granted in Respect of Motor Vehicles and shall have effect as Direction 1(i)(c).

    1(i)(c) 80 per cent in respect of unregistered non-electric motors cars (Class B) which are purchased under the ‘Mini Taxi’ concessionary loan scheme of the ‘Enterprise Sri Lanka’ programme.

(Signature)

Dr. Indrajit Coomaraswamy
Chairman of the Monetary Board and
Governor of the Central Bank of Sri Lanka

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Banking Act Directions No. 04 of2019 on Loan to Value Ratios for …Not in RegAlertBanking Act Directions No. 04 of 2019 on Loan to Value Ratios for Credit Facilities Granted in Respect of Motor Vehicles — Not in RegAlertAmendments to Loan-to-ValueRatio Directions for Motor Ve…2019-06-28 · this documentAmendments to Loan-to-Value Ratio Directions for Motor Vehicle Credit Facilities (2019-06-28)
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Amends
  • Banking Act Directions No. 04 of 2019 on Loan to Value Ratios for Credit Facilities Granted in Respect of Motor VehiclesNot in RegAlert

    “Banking Act Directions No. 04 of 2019 on Loan to Value Ratios for Credit Facilities Granted in Respect of Motor Vehicles are amended as follows:”

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