CREDIT RATING AGENCY OF BANGLADESH LTD.
Credit Rating Agency of Bangladesh Ltd. (CRAB) is committed to providing the financial markets with reliable, timely and prospective credit opinions. Built on a foundation of standardized approach in credit rating incorporating international best practices and local dynamics, CRAB is recognized around the country and across all industrial sectors as a market leader in credit ratings and research.
Credit Rating Agency of Bangladesh Ltd. (CRAB) was established in 2003 at the initiative of some leading personalities in private sector and institutions of the country with the commitment to contribute to the development of the capital market by providing quality rating and comprehensive research services. CRAB was incorporated as a public limited company in 2003 and was granted license by the Bangladesh Securities & Exchange Commissions (BSEC) in 2004. Within short span of time, CRAB has established its reputation as a reliable source of independent opinion on risks based on systematic and standardized analysis done by professionals.
CRAB is a member of the Association of Credit Rating Agencies in Asia (ACRAA). ACRAA, established in 2001, is a federation of domestic rating agencies of the Asian Continent, formed with support and cooperation of the Asian Development Bank (ADB). ACRAA works to develop cooperation among credit rating agencies in Asia and promote best practices committee of ACRA and actively participates in all its activities (web: www.acraa.com). CRAB is also a founder member of Association of Credit Rating Agencies in Bangladesh (ACRAB).
|ECAI Status Bangladesh Bank accredited CRAB as an External Credit Assessment Institution (ECAI) in April 2009. Under the standardized approach for calculating risk weighted assets against credit risk, the credit rating is to be determined on the basis of risk profile assessed by the ECAIs. Banks will use the ratings of the ECAIs and corresponding risk weight for calculating RWA for credit risk under the standardized approach. In 2013 CRAB’s SME rating was approved by Bangladesh Bank.|
|Accreditation with IDRA CRAB received accreditation from Insurance Development and Regulatory Authority (IDRA) to conduct credit of Insurance Companies.|
|The credit rating process has at its apex a high powered rating Committee composed of personalities with impeccable integrity, judgment and standing. The Committee is entrusted with the responsibility for finalization of the Rating Report and fixation of the Rating Award to Client entities and/or instruments. This Committee works independently and is not answerable to Management / Board of Directors of CRAB.|