Concessions for businesses, individuals extended | Sunday Observer

Concessions for businesses, individuals extended

12 September, 2021

Licensed commercial banks and licensed specialised banks (licensed banks) have been requested to consider extending the concessions granted previously (until August 31, 2021) to borrowers affected by Covid-19 up to December 31, 2021, considering the new surge in the pandemic and the resultant difficulties to the borrowers, a media release from the Central Bank stated.

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 affected borrowers to make arrangements to repay their dues regularly commencing January 2022.

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