Aequitas Information Services Limited ("AISL") has been granted an approval by the State Bank of Pakistan (SBP) for commencement of business under the Credit Bureau Act 2015. AISL is the first licensed bureau to receive SBP's approval, which allows the bureau to collect and collate financial data pertaining to individuals/ businesses and utilize such data to generate credit information and scoring reports.
Such reports are instrumental for enhanced financial inclusion, greater availability of credit in the market and are the cornerstone of modern economies which extensively use such reports for prudent lending decisions.
AISL's service, to be branded as TasdeeqTM, is built atop CISCO's state-of-the-art technological infrastructure and uses latest business intelligence and predictive technologies in the development of its software application.
In addition to the foreign investment in the company, the investors of AISL also include the Pakistan Credit Rating Agency ("PACRA") and its individual shareholders.-PR
Comments
Comments are closed for this article.