VIS Assigns IBM Rating To IMSPL
Umer Jamshaid Published February 11, 2022 | 06:37 PM
VIS Credit Rating Company Limited has assigned Initial Broker Management Rating of BMR3 to Investment Managers Securities Private Limited . Outlook on the assigned rating is stable
KARACHI, (UrduPoint / Pakistan Point News - 11th Feb, 2022 ) :VIS Credit Rating Company Limited has assigned Initial Broker Management Rating of BMR3 to Investment Managers Securities Private Limited . Outlook on the assigned rating is stable.
The rating signifies adequate regulatory compliance, control environment and financial management, governance and risk management framework, human resources and IT services and customer services, said release on Friday.
The assigned rating takes into account adequate governance framework of the Company. The Board consists of four members, all representing sponsors. Addition of independent representation on the board along with inclusion of certified members may facilitate formation of board committees without repetition of members and contribute towards aligning governance framework with best practices.
Internal and external control framework are adequate however the scope of internal policies and procedures may be enhanced along with disclosure levels in financial statements to strengthen the control environment.
Client relationship and HR and infrastructure are adequate. Provision of online trading platform and other customer facilitation tools including research resources may contribute towards enhancing the customer base and strengthening customer relationships. Compliance and risk management framework may be enhanced through segregating internal audit and compliance functions. An independent risk management function may also assist in credit worthiness evaluation of customers.
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