CRISL Recognition As An ECAI

CRISL Recognition As An ECAI

Bangladesh Bank has published its road map to implement BASEL-II capital adequacy requirement for all scheduled banks with effect from 2009 and it has notified to all banks and related departments vide BRPD Circular no 7 dated 23rd September 2008 that with effect from 2009, the capital adequacy of the Banks will be determined on the basis of the risk exposure of the counter parties as reflected by the rating of counter parties to be carried out by nominated External Credit Assessment Institutions (ECAIs) recognized by Bangladesh Bank. The regulators also asked the rating agencies to apply for such recognition to work an ECAI in Bangladesh Banking jurisdiction. It is expected that CRISL, being the premier rating agency of the country, will be recognized by Bangladesh bank soon and its rating grades will be mapped with capital adequacy requirement of the banks operating in the country.