Regulatory Alerts2020-03-27 | Circular No. 5 of 2020Added · Updated
Rupees 50 Billion Six-Month Re-Financing Facility to Support COVID-19 Hit Businesses
The Central Bank of Sri Lanka issued Circular No. 05 of 2020 to implement a Rs. 50 billion re-financing facility supporting businesses and individuals adversely affected by the COVID-19 pandemic. The directive mandates financial institutions to provide debt moratoriums, waive penal interest on non-performing loans, and offer new working capital loans at a subsidized 4% interest rate to eligible sectors. Additionally, the circular suspends recovery actions, extends facility tenures, and prohibits late payment fees on credit facilities until September 30, 2020.
More like this from CBSL
CBSL published 1 document in the last 30 days. We email you each new one the day it's published.
Topics
Share