Leasing for motor vehicles will be allowed up to 70% of total value, with effect from December 01, the Central Bank of Sri Lanka stated.

This comes as the third such change of the loan-to-value (LTV) ration in nearly nearly three months.

The Central Bank on September 14 directed banks, finance and leasing companies to follow a maximum LTV ration of 70 per cent for vehicle leasing.

However, it was increased to 90% later by the orders of Finance Minister Ravi Karunanayake.