In aiding the prevailing situation in the country, a full-service commercial bank DFCC Bank, has made the responsible decision to provide financial concessions to its valued customers who have been affected by the COVID-19 pandemic, in accordance with the relief guidelines invoked by the Sri Lankan Government through the Central Bank of Sri Lanka (CBSL).

As a result of the current global health crisis, CBSL has provided a set of guidelines to the commercial banks of Sri Lanka to assist citizens who have been adversely affected. Since the aforementioned global pandemic affected Sri Lanka, several measures have been initiated by the Government, such as extended curfews, for the protection of all Sri Lankans to prevent the virus from spreading further. However, this scenario has resulted in depriving most residents, regardless of social positioning, of their daily incomes.

Consequently, in order to release them of the apparent financial burdens that have arisen, DFCC Bank will provide relevant financial concessions in the following manner with immediate effect: temporary overdrafts, import and export loans and other short-term loans extended until 30 April; permanent overdraft facilities to be expired on 25 March extended until 30 September; returned cheque and stop payment charges not applicable until 30 September; small and medium enterprises, tourism, direct and indirect export related businesses, information technology, plantations and related businesses to be extended a relief period of six months; the business sector to be granted working capital credit facilities at a reduced interest rate of 4% per annum; credit card payment due dates extended until 11 May, with a late payment fee not being charged until 30 September; and the minimum credit cards payment reduced from 5% to 2.5% until 30 September.

Furthermore, the repayment period of leasing facilities for three-wheelers, transport vehicles for schoolchildren, motorcycles and taxis will be extended until 30 September; the concession period for leasing facilities granted up to Rs. 1 million to be extended for three months; and the concession period for unredeemed pawned articles up to 31 March to be extended for six months.

DFCC Bank customers that consider themselves applicable to the above-mentioned concessions are to provide formal letters of request to the bank on or before 30 April. Regarding the situation, DFCC Bank CEO Lakshman Silva commented, 'The health and safety of our valued customers is utmost important to us. We hope that the aforementioned concessions would be of extreme benefit to them during this difficult period for the whole country.'

© Pakistan Press International, source Asianet-Pakistan