Press Release

JCR-VIS Assigns BBB+ Ratings to Pak Oman Microfinance Bank Limited

Karachi, June 28, 2007: JCR-VIS Credit Rating Company Limited (JCR-VIS) has assigned an initial medium to long-term rating of BBB+ (Triple B Plus) and short-term rating of A-2 (A Two) to Pak Oman Microfinance Bank Limited. The outlook on the medium to long term rating is ‘Stable’.

The assigned ratings take into account the two-third shareholding of the Sultanate of Oman in the bank. The ratings also recognize the progress made by the bank in the first year of operations on development of lending methodologies, hiring and training of human resources at field level and setting-up branches while meeting their targets for the first year of operations for both disbursements and branch expansion. JCR-VIS is of the opinion that the management needs to increase focus on strengthening of the control environment in the organization in order to ensure that the initial momentum can be sustained over the long-term. In order to achieve this, we expect to see a further bolstering of the senior management team to cope with the requirements of expanding operations. We have also noted management’s commitment to develop an effective internal audit function at the earliest and to ensure full deployment of the planned management information system by the end of 2007. JCR-VIS will closely monitor the progress of the bank in the above-mentioned areas. We will also be reviewing asset quality trends as the bank’s portfolio becomes more seasoned.

For further information on this rating announcement, please contact Mr. Safdar Kazi ( or Saad A. Madani ( at 5311861/5311862/5311863 or fax to 5311873.

Faheem Ahmad
President & CEO

Information herein was obtained from sources believed to be accurate and reliable; however, JCR-VIS Credit Rating Company Limited (JCR-VIS) does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. JCR-VIS, the analysts involved in the rating process and members of its rating committee do not have any conflict of interest relating to the rating(s)/ranking(s) mentioned in this report. JCR-VIS is not an NRSRO and its credit ratings are not NRSRO credit ratings. JCR-VIS is paid a fee for most rating assignments. This rating/ranking is an opinion and is not a recommendation to buy or sell any securities. Copyright 2007 JCR-VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to JCR-VIS.

JCR-VIS Credit Rating Company Limited