It was started as a pioneering education project intended to fill a vacuum in the leasing and finance related companies in Sri Lanka. In the year 2000,
Sri Lanka Institute of Credit Management was incorporated under the Parliamentary Act No. 07 of 2000.

Over the years SLICM has trained over 3000 students from over 100 financial institutions in the country. SLICM has provided well qualified graduates to banks, finance companies, leasing companies and a variety of trading companies.

All Advanced Professional Diploma Holders who completes the research methodology and the research report with two years of relevant practical experience in the field of Credit Management and can apply for Associate Membership of Sri Lanka Institute of Credit Management.

These Associate Members can use the affix AICM-SL. In recognition of the SLICM's standard of education the Chartered Institute of Credit Management UK (CICM,UK) has granted Associate Membership to Diploma holders with experience in Credit Management, who have applied for membership in the CICM, UK.