Sri Lanka to replace CRIB defaulter list with scoring system

ECONOMYNEXT – Sri Lanka will reform the Credit Information Bureau listing on bad debtors with a scoring system for lenders to take decisions instead of listing customers as bad debtors, an official said.

“We have designed a new basis for the CRIB report by introducing a new scoring system” Central Bank Deputy Governor H A Karunarathne told reporters.

“The score would be between 250 and 800. From January onward crib will be reporting a scoring system.”

In the new system 800 would be given the borrowers with the best repayment record and 250 is the highest risk score or the worst payment record.

Sri Lanka’s Credit Information Bureau provides reports of defaulters to banks and financial system. Individual borrowers can also request their report. (Colombo/Nov30/2019)

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