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Friday June 14, 2024

SBP renews ECAI status

By Our Correspondent
June 07, 2023

KARACHI: The State Bank of Pakistan (SBP) on Tuesday renewed the status of two credit rating agencies operating in Pakistan namely VIS Credit Rating Company Limited (VIS) and The Pakistan Credit Rating Agency Limited (PACRA) as eligible/recognised External Credit Assessment Institutions (ECAIs) till December 31, 2023. “Banks and development finance institutions using the standardised approach of Basel framework are allowed to use credit ratings assigned by VIS and PACRA for CAR calculation purposes,” SBP said in a statement.