Credit Information

Availability of information about loans obtained by a person/institution from banks, finance companies and leasing companies etc. is important for an efficient credit market.  When the credit (loan) history of  a borrower is fully available to financial institutions, they are able to make better assessments about a customer’s credit worthiness.   This also reduces cost and time taken for loan processing. Further, it promotes discipline of the borrower and prevents the borrower becoming over-indebted to many financial institutions at the same time.  These benefits promote a good credit culture in the country and contribute to a stable and sound financial system.

To facilitate the above, the  Credit Information Bureau of Sri Lanka (CRIB) was established in 1990 under Credit Information Bureau of Sri Lanka Act, No. 18 of 1990 as amended by Act, No:8 of 1995 and Act, No: 42 of 2008 to gather credit information of borrowers from lending institutions. The CRIB has an up-to-date electronically managed credit history of  borrowers of credit institutions. 

The CRIB also maintains the Secured Transaction Register (STR)