Amendment: State Bank renews status of ECAIs

KARACHI: The State Bank of Pakistan has renewed the status of external credit assessment institutions (ECAIs) of the credit rating agencies operating in Pakistan, JCR-VIS Credit Rating Company Limited and The Pakistan Credit Rating Agency Limited, for the calendar year 2011. Standardised approach of credit risk under Basel-II requires banks / DFIs to use credit ratings assigned by recognised ECAIs for the purpose of calculation of required capital.

Published in The Express Tribune, April 5^th,  2011.