December, 2, 2019
Sri Lanka’s Central Bank said a new scoring system will be introduced to the Credit Information Bureau (CRIB) from January.
“There are lots of concerns about CRIB reporting. So, we decided to give a new face to the CRIB report by introducing a scoring system from January next year,” Deputy Governor H. A. Karunaratne said.
The credit score will be range from 250 to 800. Therefore it will give better information for the lending entities to make informed decisions,” Karunaratne added.
“If you have a high probability of defaulting, the score will be low; likewise, if you have a low probability of defaulting, your score will be high,” Karunaratne explained.