Karachi: State Bank of Pakistan 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 2018.
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.