karachi- The State Bank of Pakistan (SBP) has renewed the status of both credit rating agencies operating in Pakistan namely “JCR-VIS Credit Rating Company Limited” and “The Pakistan Credit Rating Agency Limited (PACRA)” as eligible/ recognised External Credit Assessment Institutions (ECAIs) for the calendar year 2014. Banks/Development Finance Institutions DFIs using the standardised approach of Basel II are allowed by the State Bank of Pakistan to use credit rating assigned by these recognised External Credit Assessment Institutions  (ECAIs) for CAR calculation purposes.