Fewer people knew technical terms of economy globally: VIS president
“If an agency takes money to [artificially] increase the rating of a firm then it will create troubles for the company itself"
VIS Credit Rating Company Limited President Faheem Ahmed said that there are fewer people globally who knew the technical terms of the economy.
While talking to News360, Faheem Ahmed said on a lighter note, “Sometimes, it is difficult for the people to explain their profession. I had also faced the same scene to describe what my profession is.”
The VIS president detailed that Pakistan has only two rating agencies as compared to the United States (US) where 10 agencies are working to provide rating services.
Faheem Ahmed explained how the rating agencies work, saying, “If an agency takes money to [artificially] increase the rating of a firm then it will create troubles for the company due to an influx of investors.”
He added that the rating agencies work under such laws that are stricter than banks.
Faheem Ahmed has also discussed his experiences with News360. Watch this video below:
