A draft Bill to issue licenses for private credit information service providers, and to provide for their regulation and supervision will be gazetted and presented to Parliament soon.

The Sri Lanka Credit Information Bureau is the sole authorised body for providing credit information in Sri Lanka, and having identified the positive impact of private credit information service providers on the economy, Finance Minister Ravi Karunanayake put forth the proposal to present a draft Bill to allow private credit information service providers licenses before Parliament.

The proposal was approved by the Cabinet of Ministers earlier this week.