KARACHI: VIS Credit Rating Company Limited has assigned initial broker management rating of ‘BMR3’ to AKIK Capital (Private) Limited.
The outlook on the assigned rating is stable.
The rating signifies adequate regulatory requirement and supervision and internal controls, along with adequate client relationship and fair play, human resources, infrastructure, compliance and risk management, said release on Thursday
Financial management is also considered adequate while external control framework is sound. AKIK Capital (Private) Limited, being a new company incorporated in 2020, the assessment is based on initial performance and those projected ahead.
The assigned ratings take into account adequate regulatory requirement and supervisory framework which may be enhanced through inclusion of independent and qualified members on the Board. Increasing the board size may also support formation of independently represented board level committees.
Acquisition of additional licenses and increasing the net capital balance would improve revenue generation and support larger trading activity.