Licenses and Recognition
Current regulatory recognitions and clearances across ICRA’s markets.
Zambia
Securities and Exchange Commission (SEC) Zambia
ICRA Rating, the Zambia subsidiary of ICRA Rating Tanzania, is registered with and licensed by the Securities and Exchange Commission of Zambia (SEC) to conduct credit rating services.
Pensions and Insurance Authority (PIA) - Clearance
PIA has authorised ICRA to provide credit rating services to qualified reinsurers.
Ministry of Finance and National Planning Zambia - Clearance
The Ministry recognises that the SEC is legally mandated to accredit financial institutions, including credit rating agencies, and that such accreditation provides credibility locally and internationally.
Bank of Zambia - Clearance
The Securities and Exchange Commission clearance is adequate for ICRA Rating Agency to conduct its rating activities.
Zimbabwe
Reserve Bank of Zimbabwe (RBZ) - Accreditation
The Reserve Bank of Zimbabwe has accredited International Credit Rating Agency (Private) Limited as a credit rating agency in Zimbabwe, allowing assessment of the creditworthiness of banking and microfinance institutions.
Insurance and Pensions Commission (IPEC) – Accreditation and Clearance
The commission has no objection to providing credit rating services to registered insurers in Zimbabwe.
Uganda
Capital Markets Authority (CMA) - Uganda
Approved credit rating agency by the Capital Markets Authority.
Uganda Microfinance Regulatory Authority (UMRA)
UMRA has recognised ICRA Rating Agency Limited as a credit rating service provider to its regulated institutions and recommends that licence holders be credit-rated by ICRA Rating Agency Limited.
Bank of Uganda
ICRA Rating, Uganda subsidiary of ICRA Rating Tanzania, is recognised by the Bank of Uganda. The Bank of Uganda has recognised the presence and importance of ICRA Rating in guiding access to finance for corporate entities and financial institutions in Uganda.
Tanzania
Capital Market and Securities Authority (CMSA)
Licensed by the Capital Market and Securities Authority.
Ministry of Finance Tanzania
The Ministry of Finance is advocating for stronger and more credible financial institutions and concurs that credit rating adds value to financial institutions and corporates by showcasing their potentiality.
Bank of Tanzania
The Bank of Tanzania appreciates the contribution of external credit rating services in promoting access to finance in the country.