The Central Bank of Sri Lanka (CBSL) has directed licensed commercial banks and licensed specialized banks, to extend the debt moratorium to COVID-19 affected businesses and individuals for a further period of six months commencing from 1 October 2020.
This decision has been taken with a view to meeting the challenges faced by businesses and individuals due to the second wave of COVID-19.
The necessary directive to the licensed commercial and specialised banks as well as Non-Bank Financial Institutions (NBFIs) was issued yesterday (09), the CBSL said.
Accordingly, this Circular is issued to give effect to the Scheme in a consistent manner across all licensed banks.
However, licensed banks may offer any additional concessions to borrowers in a way that the overall benefits to borrowers are not less than the benefits offered under this Circular.
Circular on Debt Moratorium for COVID-19 Affected Businesses & Individuals by Ada Derana on Scribd
