CRIB and CBSL to support businesses affected by Ditwah

The Credit Information Bureau of Sri Lanka (CRIB), under the guidance of the Central Bank of Sri Lanka (CBSL), has announced a series of relief measures aimed at supporting individuals and businesses affected by recent floods and cyclonic winds triggered by Cyclone Ditwah.

CRIB Director/General Manager Pushpike Jayasundera stated that the initiative is designed to ensure that borrowers facing temporary financial hardship due to the disaster that are not unfairly penalized in their credit records. The relief period will be extended for a period of six months.

Under the newly introduced measures, delayed loan repayments resulting from disaster-related disruptions will not be classified or reported as overdue. Financial institutions have also been instructed to update credit records to reflect any relief or concessions granted to affected customers. In addition, new loans issued to support business recovery efforts will be specifically identified as part of the post-disaster rehabilitation process.

CRIB emphasised that these steps are intended to safeguard the credit worthiness of impacted individuals and enterprises, thereby enabling continued access to future financial assistance without undue difficulty. The bureau noted that reporting of eligible borrowers under this scheme commences from March 1, 2026.

However, CRIB cautioned that borrowers who continue to default on credit facilities beyond the relief provisions may be subject to standard reporting procedures. Such cases will be treated in line with normal credit reporting practices if repayments are not maintained under the agreed relief arrangements.

Affected customers have been advised to contact their respective banks or financial institutions to obtain detailed information on the relief options available to them.

“These measures reflect our commitment to supporting national economic recovery while maintaining a fair and transparent credit information system,” Jayasundera said, adding that the initiative also seeks to promote improved access to credit across the country.

Established under the Credit Information Bureau of Sri Lanka Act No. 18 of 1990 and subsequently amended by Acts No. 8 of 1995 and No. 42 of 2008, CRIB holds the distinction of being South Asia’s first credit bureau

Source : Daily News