Regulatory Alerts2015-10-29 | Finance Business 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 Business Act Direction No. 02 of 2015 to enforce the Loan to Value Ratio for motor vehicle loans. This directive mandates that the previously issued Finance Companies Direction No. 01 of 2015 regarding this subject shall come into force on 1 December 2015. The regulation was signed by Arjuna Mahendran, Chairman of the Monetary Board and Governor of the Central Bank of Sri Lanka.
MONETARY BOARD CENTRAL BANK OF SRI LANKA
29 October 2015 | FINANCE BUSINESS ACT DIRECTION | No. 02 of 2015
LOAN TO VALUE RATIO FOR LOANS AND ADVANCES IN RESPECT OF MOTOR VEHICLES
Issued under section 12 of the Finance Business Act, No. 42 of 2011.
The Finance Companies 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) Arjuna Mahendran Chairman of the Monetary Board and Governor of the Central Bank of Sri Lanka