Central Bank calls for CRIB to align with global credit reporting standards

URGES NEXT PHASE OF INNOVATION AND INCLUSION AS CREDIT BUREAU MARKS 35 YEARS

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Central Bank Governor Dr. Nandalal Weerasinghe has stressed that the Credit Information Bureau of Sri Lanka (CRIB) must benchmark its practices against leading global and regional peers to stay ahead of the evolving trends in credit risk management and financial system regulation.

"It is vital for the CRIB to remain aligned with the best global practices and standards such as the World Bank's General Principles for Credit Reporting," Dr. Weerasinghe said.

"Participation in regional knowledge-sharing platforms and continuous benchmarking against international peers will help the bureau stay ahead of the evolving trends and regulatory expectations," he added, addressing the CRIB's CEOs' Forum and Institutional Award Ceremony on Friday.

Dr. Weerasinghe's comments come as the CRIB marks 35 years since its founding in 1990, a period during which it has evolved from a manual, limited-coverage registry into a fully digitised, nationwide system supporting the banks, non-bank lenders and other credit providers.