On May 31, ABA members were welcomed by the officers of the Credit Information Bureau of Sri Lanka (CRIB) led by Mr. Pushpike Jayasundera, Director and General Manager. The visit was part of the ABA & HNB Short Term Visiting Program held in Colombo at the end of the month of May 2024.

From the presentations made by the receiving CRIB officers, the participants learned the following:

(a) Established in 1990 as the first Credit Bureau in the South Asian region, CRIB is an independent statutory body and a public – private partnership with the Monetary Board of the Central Bank of Sri Lanka holding the majority of equity. The rest of the shares are divested among other shareholder members of the bureau.

(b) For over three decades, CRIB has been one of the pillars of the sound financial infrastructure of the country and tendered its silent contribution towards the strengthening of the founda􀆟on of disciplined credit culture in Sri Lanka, ensuring the stability of the banking and financial industry as a whole.

(c) Using state–of–the–art information and communication technology, CRIB ensures maintaining and distribution of up-to-date credit information to its shareholder members. It collects, collates and disseminates credit information of all borrowers and prospective borrowers of all its shareholder member institutions. Upon request, it provides such information back to them and also to any individual or corporate to whom such information relate. Its goal is to become a model credit bureau in the South Asia and one of the emerging credit bureaus within the Asia-Pacific region by 2025.