Regulatory Alerts2017-12-28
Added · Updated
Circular dated December 28, 2017 regarding extending the work period for the tourism sector support initiative and the retail loans initiative for workers in the tourism sector until the end of 2018
The circular extends the validity of the Tourism Sector Support Initiative until the end of December 2018, allowing banks to defer loan installments for a maximum of three years while maintaining existing eligibility criteria and prohibiting retroactive modifications to loan contracts. It also extends the Retail Loans Initiative for Tourism Sector Workers until the end of 2018, granting an additional six-month grace period for loans disbursed before September 30, 2017, to eligible employees of licensed tourism establishments. This extension applies to workers who were previously eligible under the initiative launched on December 7, 2015.
Topics
monetary
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