With the vision of building a customer - friendly reservoir of credit information, CRIB was the first in the South Asian Region to collect credit and financial information of all borrowers and potential borrowers of regulated institutions offering lending facilities. Our aspiration to become a model credit bureau in the region, is enthusiastically derived through a memorable of milestones collectively achieved throughout our journey in since 1990.
- CRIB is awarded as the “Most Innovative Credit Bureau in South Asia” in the 7th Global Business Outlook Awards.
- The “ONLINE iReport” service was introduced facilitating the general public to access their own credit information online safely due to the spreading of corona virus COVID-19.
- CRIB’s first ever credit Score “CRIB Score” was introduced to the member lending institutions in December 2019.
- In January 2018, CRIB signed agreements with the newly selected technology partner Creditinfo International Gmbh in order to commence developments. CRIB launched "iReport Online” service (Corporate) to the general public in October 2018.
- The CRIB Live Data Centre was relocated to a Tier 3 standard hosted facility which is more secure and facilitated using state – of – the – art technology.
- A new credit report for micro – lending was introduced.
- CRIB ceremonially celebrated its 25th Anniversary in May 2015. The 2nd Phase of the System Development Programme was initiated .
- CRIB launched the “iReport Online” service (Individual) to the general public in October 2013.
- Establishment of the "Disaster Recovery Centre" was completed.
- CRIB opened a new register on the 1st of August 2011 for the purposes of registration of security interests over movable assets used as collaterals when granting loans.
- Collection of Dishonoured Cheque details from commercial banks commenced in January 2010. A "Special Customer Help Desk” to handle customer disputes on credit information was established in December 2010. A "Secured Transactions Register”(STR) under the newly enacted law “Secured Transaction Act No. 42 of 2010” was established.
- Draft amendments to the Act (Act No 42 of 2008) aimed at broadening the scope of the Bureau’s services was passed by the Parliament. Self-Inquiry Credit Report (iReport) service where individuals and commercial entities are allowed to access/ request their own credit reports from the Bureau commenced in December 2009.
- CRIB launched the automated Credit Information Management System (CRIMS) in January 2008.
- Automation project with the technical partner MS. Dun and Bradstreet Information Services was initiated in August 2006.
- CRIB Modernization Project and the issuance of Request Proposal (PRF) was launched in November 2005.
- The 1st South Asian Credit Bureau Conference which was organized by CBSL, CRIB and the World Bank was held in Colombo in May 2004.
- The Bureau commenced a separate system to report information of credit card defaulters.
- The office of the Bureau was completely destroyed as a result of the Central Bank bomb blast on the 31st of January 1996. However, the data preserved elsewhere helped CRIB re–establish and re–commence operations within a short period of time.
- Committee comprising of Legal consultants from Central Bank of Sri Lanka and People’s Bank presented draft amendments to the Act in 1992, which was passed by the Parliament in 1995.
- Updating of records from biannual to monthly intervals was introduced on the 1st of January 1993.
- The Board first decided to levy a charge on credit reports issued by the Bureau from the 1st of January 1992. The rates fixed were Rs.35/= and Rs.20/= per report, delivered through fax and post respectively.
- 24 licensed financial companies have joined the Bureau as the member shareholder lending institutions.
- A committee appointed by the Central Bank of Sri Lanka in 1987 and a blue print presented thereupon recommended the establishment of a Credit Bureau in Sri Lanka which finally came into operation on 15th May 1990 through a Gazette Notification No 610/5.
- The “Credit Information Bureau of Sri Lanka” was established by Act No 18 of 1990 and the first Board meeting of the Bureau was held on 6th June 1990 which formalized the operations.
- The Bureau was officially inaugurated on 01st August 1990 by Hon D B Wijetunga, Prime Minister and Minister of Finance and was located in the 6th floor of the Ceylinco House, Colombo.
- Dr. S T G Fernando, Deputy Governor of the Central Bank of Sri Lanka was appointed as the first Chairman and Mr. W A Wijewardena who was doing as a senior officer at Central Bank was appointed as the first General Manager of the Bureau.
- A data base was established to collect the credit information of “Irregular Loans” over Rs.500,000/- in November 1990. The first credit report was issued to the member lending institutions in December 1990. Initially, 20 credit reports were issued, daily.