The State Bank of Pakistan (SBP) has renewed the status of External Credit Assessment Institutions (ECAIs) of both the credit rating agencies operating in Pakistan namely JCR-VIS Credit Rating Company Limited and The Pakistan Credit Rating Agency Limited for the calendar year 2010.
Standardised approach of credit risk under Basel-II requires banks/DFIs to use credit ratings assigned by the recognised ECAIs for the purpose of calculation of required capital.
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