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Central Bank extends more concessions amidst new wave

09 Sep 2021

The Central Bank of Sri Lanka (CBSL) has further extended the concessions that have been granted to borrowers who have been affected due to Covid-19 till 31 December 2021, considering the new surge of the pandemic. All licensed commercial banks and licensed specialised banks have been requested to act accordingly. The CBSL has also requested the affected to offer additional concessions at their request in order to benefit the borrower in terms of what has been specified by the CBSL. These new concessions are expected to provide an opportunity to make arrangements for borrowers to repay their dues, while highlighting that licensed banks also have been affected due to disruptions to normal business, despite the fact that they continue to offer per the obligations. Therefore, the CBSL urges eligible borrowers who are able to repay the loans to follow repayments, instead of requesting restructuring of credit facilities. However, the licenced banks are advised to take note of the repayment capacity of the borrowers. The previously granted concession was supposed to end by the end of last month (August).


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