KARACHI: The State Bank of Pakistan (SBP) has renewed the Status of JCR-VIS and PACRA as Eligible External Credit Assessment Institutions (ECAIs), a statement of the central bank said here on Tuesday.
It pointed out that the SBP has renewed the status of both credit rating agencies operating in Pakistan namely‘ ‘JCR-VIS Credit Rating Company Limited (JCR-VIS)’ and ‘The Pakistan Credit Rating Agency Limited (PACRA)’ as eligible/ recognized External Credit Assessment Institutions (ECAIs) for the calendar year 2017.
Banks and DFIs using the standardized approach of Basel framework are allowed to use credit ratings assigned by JCR-VIS and PACRA for CAR calculation purposes, it was further pointed out.
