KARACHI: The State Bank of Pakistan (SBP) has renewed the status of both credit rating agencies operating in Pakistan JCR-VIS Credit Rating Company (JCR-VIS) and Pakistan Credit Rating Agency (Pacra)as eligible/recog-nisedexternalcredit assessment institutions (ECAIs) for 2017.

Banks and development finance institutions (DFIs) using the standardised approach of the Basel frameworl( are allowed to use credit ratings assigned by JCR-VIS and Pacra for capital adequacy ratio (CAR) calculation purposes.