The Pakistan Credit Rating Agency (PACRA) has maintained the long term and short term entity ratings of Pakistan Microfinance Investment Company (PMIC) at ‘AA’ (Double A) and ‘A1+’ (A One Plus) respectively. The rating reflects strong equity base, well-conceived business plans and strong ownership structure. The ratings denote a very low expectation of credit risk emanating from a very strong capacity for timely payment of financial commitments which is not significantly vulnerable to foreseeable events. PMIC, incorporated in 2016, is licensed to carry out investment finance services as a Non- Banking Finance Company (NBFC) under the NBFC Rules, 2003 and NBFC Regulations 2008. The strong sponsors, Pakistan Poverty Alleviation Fund (49%), Karandaaz (38%) and KfW, a german development Bank (13%) strengthen the financial profile of PMIC.
Countries at the United Nations climate conference (COP29) in Baku, Azerbaijan, adopted a $300 billion…
Gaza's Health Ministry reported 35 Palestinians killed and 94 injured in the last 24 hours…
Indian Muslim protesters clashed with police on Sunday with at least two people killed in…
In a significant legal development, the Supreme Court of India has reportedly emphasized the importance…
The U.S. Securities and Exchange Commission (SEC) has summoned Indian billionaire Gautam Adani over allegations…
Punjab Chief Minister Maryam Nawaz Sharif has paid glowing tribute to Marium Mukhtiar, Pakistan's first…
Leave a Comment