Service overview
A credit rating company carries out regulated credit assessments requiring analytical independence and transparent methodologies.
A company certificate does not itself authorise a regulated business. Depending on the activity, SECP may require prior formation permission, incorporation, a separate operational licence, and continuing financial and fit-and-proper compliance.
Who is eligible for Credit Rating Company Licence?
Review promoter, capital, staffing, independence and fit-and-proper requirements under the credit-rating regime.
Credit rating companies must have adequate independent analytical capacity, capital, governance and published methodologies. Principal shareholders, rating committee members and financial conflicts require regulatory scrutiny.
Documents and information for Credit Rating Company Licence
Prepare the following information for credit rating company licence. The relevant regulator may require further forms or certified evidence, depending on the applicant and chosen procedure.
- Analyst qualifications
- Credit-rating methodology
- Shareholding
- Capital and controls
- Governance and quality assurance policies.
How can I obtain Credit Rating Company Licence in Pakistan? — step-by-step guide
- 01Identify the appropriate application route and eligibility
First determine whether the proposed applicant and activity fall within this procedure. Review promoter, capital, staffing, independence and fit-and-proper requirements under the credit-rating regime. Review the separate conditions and exclusions in the eligibility section before submitting any form or payment.
- 02Prepare the application documents and evidence
Start with the particulars listed for this service: Analyst qualifications; Credit-rating methodology; Shareholding; Capital and controls; Governance and quality assurance policies.. Ensure the names, applicant identity and documents are consistent. The authority may require further supporting material under its current checklist.
- 03Check the current regulator instructions before filing
Refer to the regulator resource identified on this page (SECP credit rating company licensing checklist ↗). Reconfirm the currently prescribed forms, online or physical submission method, supporting evidence, fee and any current amendments. Do not assume that historic processing times or fees remain applicable.
- 04Prepare independent credit rating methodology
Define rating universe, models, independence arrangements and the competent credit rating applicant vehicle.
- 05Submit SECP credit rating licence evidence
Supply analyst backgrounds, capital, shareholding, corporate governance, conflict and surveillance procedures under the current CRC regulations.
- 06Undergo licensing scrutiny of analytical readiness
Resolve regulator observations and obtain the permission before offering regulated ratings.
- 07Maintain surveillance and methodology publications
Keep rating quality, appeals/conflicts and periodic reports current.
- 08Keep the approval record and track ongoing obligations
After the authority has made its decision, retain the acknowledgement, correspondence, evidence of approval and any conditions attached to it. Maintain surveillance, conflicts management, publication policies and supervisory records. Check whether separate approvals, renewals or reporting duties apply to the actual business.
Use the current regulator checklist to confirm that every listed item is still required and that any activity-specific conditions have been met. The items below are drawn from the document requirements identified on this page, not a representation that the checklist is exhaustive.
- Analyst qualifications
- Credit-rating methodology
- Shareholding
- Capital and controls
- Governance and quality assurance policies.
Before signing or paying, reconcile the particulars across Analyst qualifications and Credit-rating methodology; check the applicant and business classification, identify the person authorised to submit, and retain a copy of the final application and official correspondence. Official instructions control if the portal or law has changed.
Regulator resource: SECP credit rating company licensing checklist
After registration or approval
Maintain surveillance, conflicts management, publication policies and supervisory records.
Credit rating company: independent ratings methodology and regulated permission
Primary-source research note. The following procedural analysis is based on the identified government or regulator sources. Confirm enacted amendments, applicable forms, fees and filing requirements on the date of submission. A consultation draft is not operative law merely because it has been published. This note does not represent final legal-editor certification of the entire guide.
What is regulated
Credit rating companies are regulated securities-market entities under the Securities Act, 2015 and Credit Rating Companies Regulations, 2016, according to SECP's licensing guidance. Issuing third-party credit ratings is different from a financial institution maintaining an internal loan-risk score or an unregulated consultant preparing research.
Grant and renewal
SECP's credit-rating licensing page refers applicants to a checklist covering permission, grant and renewal. Establish the proposed company's ownership, management, financial resources, competence of analytical staff and controls over ratings decisions. Verify the current regulations and any amendments rather than assuming the first 2016 version is definitive.
Independence and conflicts
Document credit rating methodologies, rating committee structure, recordkeeping, issuer information, confidentiality, conflicts of interest, fees and review or withdrawal of published ratings. The offering of regulated ratings should not begin merely because a company has been incorporated.
Evidence of authorisation
SECP publishes a list of licensed companies, including a July 2026 update. A company's appearance on a list is separate from the required application and ongoing compliance, but can assist due diligence about a proposed rating provider.
Official legal and regulatory sources
Governing law & official references
SECP credit rating company licensing framework and applicable rules and regulations under securities law.
The links below lead to government or official regulatory sources relevant to this service. Use the currently consolidated Act, regulations, statutory checklist and official portal when making an application.
How Chambers can assist
Chambers can review the legal route, identify regulatory constraints, prepare or review the supporting corporate and legal documents, manage the prescribed submission and correspond with the competent authority where instructed. The scope of the engagement will be determined by the applicant’s particular circumstances.
For an initial enquiry, identify the proposed activity, applicant entity and current stage, and provide the available documents indicated above. Please avoid sending confidential or identity-sensitive records through an unencrypted first contact.
Common questions about Credit Rating Company Licence
Who is eligible for Credit Rating Company Licence in Pakistan?
Review promoter, capital, staffing, independence and fit-and-proper requirements under the credit-rating regime.
What documents are needed for Credit Rating Company Licence?
Analyst qualifications; Credit-rating methodology; Shareholding; Capital and controls. Additional requirements can apply to the actual business or regulator.
How can I obtain Credit Rating Company Licence in Pakistan?
Prepare independent credit rating methodology: Define rating universe, models, independence arrangements and the competent credit rating applicant vehicle. Submit SECP credit rating licence evidence: Supply analyst backgrounds, capital, shareholding, corporate governance, conflict and surveillance procedures under the current CRC regulations. Undergo licensing scrutiny of analytical readiness: Resolve regulator observations and obtain the permission before offering regulated ratings. Maintain surveillance and methodology publications: Keep rating quality, appeals/conflicts and periodic reports current.
This guide is general information, not advice on your facts. Check the applicable law, notifications, updated regulator checklists and jurisdiction before acting. The authority alone determines eligibility, acceptance and approval; no outcome or processing period is guaranteed.