State Bank renews credit rating agencies status

State Bank renews credit rating agencies status

KARACHI: The State Bank of Pakistan (SBP) on Tuesday renewed the status of both credit rating agencies operating in Pakistan namely ‘VIS Credit Rating Company Limited (VIS)’ and ‘The Pakistan Credit Rating Agency Limited (PACRA)’ as eligible / recognized External Credit Assessment Institutions (ECAIs) for the calendar year 2021. 

Banks and DFIs using the standardized approach of Basel framework are allowed to use credit ratings assigned by VIS and PACRA for CAR calculation purposes, the central bank added.

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