Regulatory Alerts2015-10-29 | Finance Leasing Act Direction No. 2 of 2015Loan to Value Ratio for Loans and Advances in respect of Motor Vehicles
The Central Bank of Sri Lanka issued Finance Leasing Direction No. 02 of 2015 under the Finance Leasing Act to regulate loan-to-value ratios for motor vehicle financing. This directive mandates that the previously issued Finance Leasing Direction No. 01 of 2015 regarding this subject shall come into force effective 1 December 2015. The regulation is issued by the Director of the Department of Supervision of Non-Bank Financial Institutions to ensure compliance with statutory requirements.
MONETARY BOARD CENTRAL BANK OF SRI LANKA
29 October 2015 | FINANCE LEASING ACT DIRECTION | No. 02 of 2015
LOAN TO VALUE RATIO FOR LOANS AND ADVANCES
IN RESPECT OF MOTOR VEHICLES
Issued under section 34 of the Finance Leasing Act, No. 56 of 2000.
The Finance Leasing Direction No. 01 of 2015 dated 14 September 2015 on the above subject shall come in to force with effect from 01 December 2015.
[Signature]
U P Alawattage Director, Department of Supervision of Non-Bank Financial Institutions Central Bank of Sri Lanka