The debt moratorium will be implemented for personal loans, credit card debt, SME loans, among other sectors. Financial institutions are also directed to provide new working capital loans.
March 26, 2020The central bank has also asked financial institutions to refrain from engaging in speculative activity, which it says "could lead to panic in the financial market."
March 18, 2020This decision reflects the lack of SLIBOR's usage of in benchmarking loan products in the domestic financial market, along with a global trend of phasing out IBORs.
February 27, 2020The central bank, financial institutions, and companies must assess the impact, and the LIBOR transition should start "immediately", says ICRA Lanka, a Moody's group company.
February 11, 2020The new scheme provides risk mitigation support to banks that defer principal repayment and extend new loans for SME borrowers, including those that have defaulted.
January 18, 2020The new Banking Act will streamline the licensing process, branch approvals, and adopt a proportionality framework for banking regulations, among other changes.
January 10, 2020Eight banks will be penalised for failure to lower lending rates by a 27 December 2019 deadline set by the central bank in September last year, intended to ensure the public benefits from monetary policy decisions.
January 7, 2020The CBSL is inviting software development companies to apply (by 31 December) to help in the development of a proof-of-concept of a shared KYC facility.
December 6, 2019Sri Lanka has made "significant progress" to address strategic AML/CFT deficiencies; Pakistan has only largely addressed 5 of 27 action items and has failed to meet agreed deadlines.
October 23, 2019Licensed finance companies are required to enter into agreement with reputed credit agencies to obtain ratings by 30 April.
April 13, 2018