Credit rating agencies: Pakistan to cooperate with Iran

Pakistan Credit Rating Agency (Pacra), Securities and Exchange Organization of Iran (SEO) sign MoU.

ISLAMABAD: Pakistan Credit Rating Agency (Pacra) and the Securities and Exchange Organization of Iran (SEO) signed a memorandum of understanding (MoU) in Tehran on Monday, wherein Pacra will provide technical assistance in establishing a credit rating regime in Iran. Under the agreement, Pacra shall prepare the regulatory framework for the credit rating business and set up rating agencies in Iran. In order to enhance cooperation and assistance to each other in areas of interest, the Security and Exchange Commission of Pakistan (SECP) and Iran’s SEO had constituted a liaison committee that is entrusted with the task of exploring areas of assistance to each other. Speaking on the occasion, SECP Commissioner Imtiaz Haider lauded the efforts of SEO Iran and Pacra for the achievement and emphasised on further cooperation.

Published in The Express Tribune, November 27^th, 2012.