Regulatory Alerts2019-05-08 | Circular No. 07 of 2019Concessions Granted to Tourism Industry
The Central Bank of Sri Lanka mandates licensed commercial and specialized banks to grant moratoriums on capital and interest payments to qualified tourism borrowers until 31 March 2020. Banks must convert due amounts into term loans recoverable from July 2020, maintain existing non-performing loan classifications, waive penal interest, and leverage designated government schemes for working capital. Institutions must secure board approval, retain supporting documentation, and submit monthly borrower reports to the Director of Bank Supervision by the 15th of each succeeding month.
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