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.