The Central Bank of Sri Lanka says it has informed licensed commercial banks and licensed specialised banks to consider extending the concessions granted previously to borrowers affected by COVID-19 till the 31st of December 2021.
The CBSL said the request was made taking into consideration the new surge in the pandemic and the resultant difficulties faced by borrowers.
The CBSL statement said licensed banks have also been requested to offer additional concessions to affected borrowers, at their request, in a way that the overall benefits to the borrowers are not less than those specified by CBSL.
These new concessions are expected to provide an opportunity for borrowers to make arrangements to repay their dues regularly commencing January 2022.
The Central Bank also noted that licensed banks too have been affected by continuous disruption of normal business.
Therefore, the CBSL urged eligible borrowers who can repay loans to commence or continue the repayments instead of requesting deferment or restructuring of credit facilities.