CA Sri Lanka signs MoU with People’s Bank for COVID-19 loan scheme for members

May 27, 2020 (LBO) – The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) entered into a Memorandum of Understanding (MoU) with People’s Bank this week to facilitate members of the Institute to obtain a special loan of up to Rs. 20 million.

The loan scheme is available for members who have been severely affected by the COVID-19 pandemic and the subsequent lockdown.

The MoU was signed between President of CA Sri Lanka Manil Jayesinghe and Acting Chief Executive Officer/General Manager of People’s Bank M. A. Bonniface Silva on 26th May 2020.

Accordingly, CA Sri Lanka members who are employed in the private sector, self-employed and attached to accounting firms run by members of the Institute are eligible for the loan of up to a maximum of Rs. 20 million to help revive their businesses which have taken a massive blow due to the lockdown which was in affect for over 2 months in an effort to curb the spread of the virus.

The loan scheme which is available for a period of three months from 26th May 2020 also allows CA Sri Lanka Chartered Accountants who are non-customers of People’s Bank to obtain the loan.

In its continuing commitment to serve members and as a responsible professional body, CA Sri Lanka has implemented a host of measures to address the difficulties faced by members who were severely affected by COVID-19.

The special scheme with People’s Bank is a result of the continuing measures adopted by CA Sri Lanka to assist its members during these unprecedented times of great challenge.

(From L-R) Dulani Fernando, CEO of CA Sri Lanka, Sanjaya Bandara, Vice President of CA Sri Lanka, Tishan Subasinghe, Council Member of CA Sri Lanka, Manil Jayesinghe, President of CA Sri Lanka, M.A. Bonniface Silva, Acting Chief Executive Officer/General Manager of People’s Bank, Sujeewa Rajapakse, Chairman of People’s Bank, Ranjith Kodituwakku, Deputy General Manager (Commercial Banking and Digitization), Renuka Jayasinghe, Deputy General Manager (Retail Banking) and K.B. Rajapakse – Senior Deputy General Manager (Retail Banking)