The Central Bank of Sri Lanka (CBSL) has directed licensed commercial banks and licensed specialized banks, to extend the debt moratorium to current pandemic affected businesses and individuals for a further period of six months commencing from 01 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 pandemic.
The necessary directive to the licensed commercial and specialised banks as well as Non-Bank Financial Institutions (NBFIs) was issued yesterday (09 November 2020), 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.
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