The Central Bank of Sri Lanka (CBSL) has released a directive to lower the interest rates on lending services offered by licensed commercial banks (LCBs) and licensed specialized banks (LSBs).
This change will come into effect on August 25th.
Consequently, reductions in interest rates will apply to various services, including pawning facilities, pre-arranged temporary overdrafts, credit card advances, as well as new and existing lending products denominated in Sri Lankan Rupees (LKR).
