State Bank renews status of External Credit Assessment Institutions

Karachi: The State Bank of Pakistan (SBP) has renewed the status of External Credit Assessment Institutions (ECAIs) of both the credit rating agencies namely M/s JCR-VIS Credit Rating Company Limited and The Pakistan Credit Rating Agency Limited operating in country for the calendar year 2012.

It may be pointed out that Standardized approach of credit risk under Basel-II requires banks / DFIs to use credit ratings assigned by the recognized ECAIs for the purpose of calculation of required capital.

For more information, contact:
Syed Wasimuddin
Chief Spokesman
State Bank of Pakistan (SBP)
Tel: +9221 3921 2562
Fax: +9221 3921 2563
Email: syed.wasimuddin@sbp.org.pk