CBSL extends deadlines to support businesses

COLOMBO (News1st): The deadline for businesses to submit debt moratorium requests and to obtain working capital loans at an annual interest rate of four percent has been extended until May 15, the central bank said. Issuing a statement, the monetary authority noted that this provision had been granted to assist customers of financial institutions affected by the COVID-19 pandemic. "... where the validity period of cheques valued less than Rs.500,000 has expired, the banks are required to consider them as valid until 15 May 2020," the statement read. The central bank urged customers to repay their loans during the extended period in order to support banks in strengthening their liquidity positions. Businesses and individuals have been requested to contact their respective banks if they wish to avail themselves of the relief measures.