KARACHI: State Bank of Pakistan (SBP) has renewed the status of both the credit rating agencies operating in the country as eligible /recognized external credit assessment institutions (ECAIs) for the calendar year 2014.

These agencies are JCR-VIS Credit Rating Company Limited and The Pakistan Credit Rating Agency Limited ( PACRA), said SBP press release here on Tuesday.

Banks / DFIs using the standardized approach of Basel II are allowed to use credit rating assigned by these recognized ECAIs for CAR calculation purposes.

Copyright APP (Associated Press of Pakistan), 2014