The Credit Information Bureau of Sri Lanka (CRIB) has announced a significant expansion of the country’s credit information ecosystem with the onboarding of four licensed microfinance institutions, following the publication of the relevant Government Gazette Notification.
This initiative marks an important step towards strengthening credit information sharing within the microfinance sector, enhancing the availability of reliable credit information, and promoting greater financial inclusion by facilitating improved access to formal credit for underserved individuals and businesses.
Under the powers vested in the Credit Information Bureau of Sri Lanka Act, No. 18 of 1990, four Licensed Microfinance Companies have been formally declared as designated lending institutions. The newly included institutions are Berendina Micro Investments Company Limited, Lak Jaya Micro Finance Limited, Dumbara Micro Credit Limited, and Sejaya Micro Credit Limited.
This regulatory inclusion integrates microfinance institutions into CRIB’s centralized credit information infrastructure, enabling them to both contribute credit information and access borrower profiles within a secure and well-governed framework. This development will strengthen the institutions’ capacity to expand their reach to underserved and marginalized segments of the economy by improving the visibility of data and supporting more informed lending decisions. Furthermore, access to reliable credit information will help these institutions strengthen credit risk assessment, enhance risk management practices, uphold sound governance standards, and promote responsible lending, thereby facilitating wider access to formal credit and supporting sustainable economic empowerment.
A ceremony to mark the onboarding of microfinance data to CRIB was held recently with the participation of Mr. K.G.P. Sirikumara – Chairman of CRIB & Deputy Governor of the Central Bank of Sri Lanka as the chief guest, Mrs. R. M. C. H. K. Jayasinghe – Director Department of Supervision of Non-Bank Financial Institutions of CBSL, Mr. Pushpike Jayasundera – Director/ General Manager of CRIB, Mr. Wasantha Gunawardhane – President of the Lanka Microfinance Practitioners’ Association, Chief Executive Officers of the respective companies, other officials of the companies and CRIB.
Commenting on the development, Director/ General Manager of CRIB, Mr. Pushpike Jayasundera stated: “The formal integration of licensed microfinance companies into the CRIB framework marks a pivotal step toward building a truly inclusive financial ecosystem in Sri Lanka. Microfinance plays a vital role in supporting micro-entrepreneurs, small businesses, and grass-roots economic activity. By bringing these institutions into our national credit intelligence network, we are mitigating information asymmetry at the micro level, encouraging responsible borrowing, and enabling financial institutions to extend credit with greater risk confidence.”
The inclusion of these institutions aligns with CRIB’s broader strategic objective to expand credit coverage beyond mainstream commercial banking into grassroots and micro-finance sectors, further driving financial inclusion, credit discipline, and sustainable economic revitalisation across Sri Lanka.
Established by the Credit Information Bureau of Sri Lanka Act No. 18 of 1990 as amended by Act No. 8 of 1995 and 42 of 2008, CRIB is the first credit bureau in the South Asian region. An initiative of the Central Bank of Sri Lanka and the Ministry of Finance, the Bureau serves as the national repository of credit information for all borrowers, delivering a range of value-added services that facilitate faster and more affordable access to credit, thereby enhancing financial inclusion for all citizens.