The Central Bank of Sri Lanka (CBSL) has released a directive to lower the interest rates on lending services offered by licensed commercial banks (LCBs) and licensed specialized banks (LSBs).

This change will come into effect on August 25th. As a result, reductions in interest rates will apply to various services, including pawning facilities, pre-arranged temporary overdrafts, credit card advances, as well as new and existing lending products denominated in Sri Lankan Rupees (LKR).