Sinhala (Sri Lanka)Tamil (Sri Lanka)


    Font size
  • Increase font size
  • Decrease font size

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

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 Mr. Manil Jayesinghe and Acting Chief Executive Officer/General Manager of People's Bank Mr. 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.

Mr. Jayesinghe said that due to the global pandemic, big and small businesses as well as the accounting profession have been challenged in an unprecedented manner across Sri Lanka which resulted in members of CA Sri Lanka facing immense difficulties due to business and income losses stemming from the COVID-19 pandemic and the resultant lockdown.