90-pct vehicle leasing facility to come into effect today

Oct 29, 2015 (LBO) - Sri Lanka's Finance Ministry said that a 90 percent loan margin of leasing facility for motor vehicles will come into effect from Thursday.

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An official notice will be sent out to the government and private financial institutions today, the ministry said.

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From September 15, 2015, the 100 percent loan to value was limited to 70 percent by the Central Bank of Sri Lanka.

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However, considering the negative impact this might have on the market the Finance Minister stated that a 90 percent leasing facility will be given for motor vehicles.