CRIB celebrates 25 years; cuts report charges

The Credit Information Bureau of Sri Lanka (CRIB) has reduced the charges it levies on credit reports issued by it by 37.5% as its mark the completion of 25 years of successful service today.

Formed by an Act of Parliament on 15May 1990, CRIB was the first Credit Bureau to be set up in South Asia.

During the past 25 years CRIB has provided risk management capabilities to all regulated lending institutions.

 facilitated information based lending and quick access to finance for eligible borrowers thereby augmenting growth opportunities for the entire economy.

Apart from reducing report charges, CRIB also now enables viewing of the Credit Information of a Borrower online, which is another first of CRIB in the South Asian Region. 

“One needs to register with CRIB and obtain a password to access one’s credit information online from anywhere at any time,” a spokesman said.

Plans are also underway to link individuals who have internet banking facilities, where CRIB will provide them with a one-time password by which they can also access their credit information each time they access their banking information through their bankers’ online web portal.