- the Credit Information Bureau of Sri Lanka was set up in 1990 under the Credit Information Bureau Act, No.18 of 1990 as amended, to collect and collate credit information and to furnish such information to its member lending institutions. As the economic growth has improved due to peaceful conditions prevailing in the country and due to improvements in the macroeconomic environment, the credit demand has increased with greater demand for credit information by member financial institutions. The proposed Information and Communication Technology (ICT) Infrastructure of the CRIB would enable all financial institutions to send and receive credit information online, at a faster pace and improve the data quality and accuracy of credit information. The proposal made by H.E. the President, in his capacity as the Minister of Finance and Planning, to proceed with the related activities pertaining to the acquisition of a new ICT System for the CRIB, was approved by the Cabinet.