Regulatory Alerts2021-09-10 | Circular No. 7 of 2021Amendment to Circular No. 06 of 2021 on Concessions for COVID-19 Affected Businesses and Individuals
The Central Bank of Sri Lanka issued Circular No. 07 of 2021 to extend and modify financial concessions for non-bank financial institutions supporting COVID-19 affected borrowers until 30 September 2021. The updated regulations mandate the suspension of penal interest, recovery actions on newly classified non-performing loans, and early settlement fees while permitting up to fifteen working days of repayment delays without restructuring. These adjustments ensure continuous credit facility support and reduced financial burdens for eligible businesses and individuals during the pandemic recovery period.
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