SBP renews status of JCR-VIS, PACRA as ECAIs

KARACHI: The State Bank of Pakistan (SBP) has renewed the status of both credit rating agencies operating in Pakistan namely JCR-VIS Credit Rating Company Limited and The Pakistan Credit Rating Agency Limited as eligible/ recognized External Credit Assessment Institutions (ECAIs) for the calendar year 2018.

Banks and DFIs using the standardized approach of Basel framework are allowed to use credit ratings assigned by JCR-VIS and PACRA for credit and assets ratio (CAR) calculation purposes.