The Aequitas Information Services Limited (AISL) has been granted an approval by the State Bank of Pakistan (SBP) which became the sole licensing authority under the Credit Bureau Act 2015 for commencement of business.
The AISL has become the first licensed bureau to receive SBP’s approval which would allow it to collect and collate financial data pertaining to individuals and businesses, and subsequently utilise such data for generating credit information and scoring reports.
Such reports could be vital and instrumental for enhanced financial inclusion, greater availability of credit in the market and thus cornerstone of modern economies which extensively use such reports for prudent lending decisions.
The AISL’s service, which is to be branded as Tasdeeq TM, is built using CISCO’s state-of-the-art technological infrastructure and uses advanced business intelligence and predictive technologies in the development of its software application.
In addition to the foreign investment in the company, AISL’s investors also included the Pakistan Credit Rating Agency (PACRA) and several individual shareholders.
Published in Daily Times, October 31st 2018.
