CRIB hosts Annual General Meeting for 2024

The Credit Information Bureau of Sri Lanka (CRIB) convened its Annual General Meeting (AGM) for the year 2024 on July 23 via an online platform. 

The event showcased the Bureau’s performance for the year under review and underscored its commendable achievements and steadfast commitment to advancing credit inclusivity within Sri Lanka’s financial ecosystem, leveraging cutting-edge technological platforms.

Held under the theme ‘Data in Action, Change in Motion’, the AGM was presided over by the Chairman of CRIB and Deputy Governor of the Central Bank of Sri Lanka, J.P.R. Karunaratne, who delivered the keynote address. 

This was followed by a comprehensive presentation on the Bureau’s operational and strategic performance by the Director/General Manager Pushpike Jayasundera.

The meeting was attended by representatives of all 64 shareholder financial institutions of the Bureau, reflecting the continued engagement and collective vision of CRIB’s stakeholders.

Addressing the gathering, CRIB’s Director/General Manager, Pushpike Jayasundera, underscored the Bureau’s transformational journey from a conventional credit reporting body to a data-driven powerhouse at the heart of Sri Lanka’s financial sector. 

He highlighted that CRIB’s credit database had expanded to over 17 million records, with integration of new data sources such as gold loans, margin trading, factoring, and even non-traditional data from utilities and telecom providers. “Data, when harnessed responsibly, is one of Sri Lanka’s most valuable national assets,” Jayasundera stated. 

Among the Bureau’s notable achievements in 2024 was securing the necessary clearances with regard to Secured Transactions Registry, in collaboration with the Ministry of Finance and the Central Bank of Sri Lankan paving the way for MSMEs and the general public to access credit providing movable assets as collateral. Alongside the introduction of advanced credit scoring models designed to support SMEs and revival lending.

Looking ahead, the Bureau remains focused on driving transparency, efficiency, and inclusion through transformative initiatives such as the CRIB mobile application, which will give users direct access to credit profiles, real-time alerts, and enhanced control over their financial journeys, marking a significant step forward in building a more inclusive financial future and a data-driven economy for Sri Lanka.