Regulatory Alerts2023-03-03 | Letter to CEOs of LFCs and SLCsProposed Concessionary Measures to MSMEs and Individuals Affected by Macroeconomic Conditions
The Central Bank of Sri Lanka directs licensed finance and specialised leasing companies to implement concessionary measures for macroeconomically affected MSMEs and individual borrowers. Institutions must restructure or reschedule credit facilities based on future repayment viability, suspend recovery actions for non-performing loans classified after January 2020 upon receiving acceptable repayment plans, and incentivize early settlement through reduced charges and interest rates. These directives require branch-level dissemination and execution to sustain borrower repayment capacity while preventing excessive strain on the non-bank financial institution sector.
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