To work only for SME sector
Bangladesh Bank has recently given recognition to a new credit rating agency to compute rating of the industrial units of small and medium enterprises.
This is for the first time that the central bank has given recognition to a rating agency that will work only for SME sector. The new credit rating agency for the SME sector is Bangladesh Credit Rating Agency Ltd.
The BB issued a circular to managing directors and chief executive officers of all scheduled banks on Thursday saying that the BDRAL had been recognised as eligible external credit assessment institution to compute the rating in the SME sector.
A BB official told New Age that the BB had given reorganisation to the BDRAL to compute the rating of the SME sector as the industrial volume of the small and medium enterprises had increased significantly in the last few years.
The BB earlier gave recognition to seven credit rating agencies — CRISL, CRAB, NCRL, ECRL, ACRSL, WASO and Alpha Credit Rating Ltd.
The BB circular said that all scheduled banks operating in Bangladesh might nominate any one or more rating agencies for their SME clients’ credit rating for the purpose of calculating risk weight asset against credit risk against claims on the SME.
-With New Age input
