Emerging Credit Rating
Emerging Credit Rating Limited (ECRL) is a Bangladesh-based, BSEC-licensed credit rating agency recognized by Bangladesh Bank as an External Credit Assessment Institution. It provides independent long-term, short-term, entity and bond credit ratings to corporates, banks, financial institutions, NGOs and bond issuers across Bangladesh.
- Company typePrivate
- Founded2009
- HeadquartersDhaka, Bangladesh
- Headcount51–100
- GTM typeB2B
- OfferingServices
What Emerging Credit Rating does
Emerging Credit Rating Limited (ECRL) is a Bangladesh-based, privately held credit rating agency founded in 2009 and headquartered in Dhaka with additional offices in Chattogram and Bogura. The company is licensed by the Bangladesh Securities and Exchange Commission (BSEC) under the Credit Rating Companies Rules 1996/2022 and is recognized by Bangladesh Bank as an External Credit Assessment Institution (ECAI), enabling its ratings to be used by local banks for capital adequacy and collateral purposes. ECRL's core offering is independent credit rating services — long-term, short-term, entity and bond ratings — delivered to corporate entities, commercial and Islamic banks, financial institutions, insurance companies, NGOs, and bond issuers across Bangladesh.
ECRL's rating methodology evaluates financial performance, scale of business, management quality, operational quality, profitability, industry outlook, loan repayment history and macroeconomic factors. The company publishes a monthly economic and business review magazine, quarterly publications, industry analysis reports and working papers, and maintains primary survey and secondary data capabilities to support assessments. ECRL adheres to the IOSCO Code of Conduct for Credit Rating Agencies and the Arab Credit Rating Agencies Association (ACRAA) Code of Conduct, providing additional international standard alignment.
The business operates as a B2B professional services firm on a sales-led, direct engagement model, with a published fee structure and multi-year contracts covering initial ratings, annual surveillance ratings and bond ratings. With 51-100 employees and a named client base spanning banking, power and energy, financial services, consumer electronics, beverages, manufacturing, pharmaceuticals, and telecommunications, ECRL's revenue is driven by rating mandates in the Bangladesh corporate and financial sector. The company is led by CEO Arifur Rahman (since March 2023), Chairman Ahsan Parvez (since September 2025), and Advisor Mohammed Salim (since July 2026).
Emerging Credit Rating firmographics
Firmographics- Name
- Emerging Credit Rating
- Legal name
- Emerging Credit Rating Limited
- Website
- https://emergingrating.com
- Company type
- Private
- Founded year
- 2009
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Emerging Credit Rating Limited (ECRL) is a Bangladesh-based, BSEC-licensed credit rating agency recognized by Bangladesh Bank as an External Credit Assessment Institution. It provides independent long-term, short-term, entity and bond credit ratings to corporates, banks, financial institutions, NGOs and bond issuers across Bangladesh.
- Ownership category
- akta.pro rank
Emerging Credit Rating industry classification
Industry- Product category
- Credit Rating Services
- NAICS
- Activities Related to Credit Intermediation (5223)
- SIC
- Security Brokers, Dealers & Flotation Companies (6211)
- akta.pro primary industry
- Equity Capital Markets Advisory (Equity Issuance Strategy & Readiness) (FSACAAAI)
Keywords
Where Emerging Credit Rating is headquartered
LocationHeadquarters
- HQ city
- Dhaka
- HQ country
- Bangladesh
- HQ region
- Asia
Offices3 records
Markets served
Emerging Credit Rating business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales
Revenue model
- Credit Rating Services: ECRL generates revenue through providing credit rating services to corporate entities, financial institutions, banks, insurance companies, NGOs, and bond issuers. The company charges fees for initial ratings, annual surveillance ratings, and bond ratings as per their published fee structure.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Quote-based professional services pricing |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels5 records
Emerging Credit Rating product offering
Product offeringCore offering
Emerging Credit Rating Limited (ECRL) is a Bangladesh-based credit rating agency that delivers independent creditworthiness opinions for corporate entities, banks, financial institutions, insurance companies, NGOs, and bond issuers. The company offers entity ratings, annual surveillance ratings, and bond ratings using a proprietary methodology that evaluates financial performance, business scale, management quality, profitability, loan repayment history, industry prospects, and macroeconomic factors. ECRL also publishes a monthly economic and business review magazine, industry analysis reports, and working papers supporting the Bangladesh financial ecosystem.
Product overview
Emerging Credit Rating Limited (ECRL) operates as a credit rating agency in Bangladesh, offering a unified suite of services centered on its Credit Rating Service — the core product that delivers independent creditworthiness opinions for companies, financial institutions, and bond issuers. The rating service is underpinned by a proprietary Rating Methodology framework and delivered through published Rating Reports. ECRL supplements its core rating business with a range of knowledge products: the ECRL Monthly Economic and Business Review Magazine (a monthly analytical publication covering macroeconomic indicators, banking statistics, and capital market data), Industry Analysis & Research Publications (including industry reports, quarterly publications, and working papers), a Primary Survey Data service, a Secondary Data Bank covering Bangladesh and international data, an Unsolicited Rating Policy Service for non-engaged entities, and the ECRL Thought/Blog platform for thought leadership.
Differentiator
Problem solved
Functional benefit
Products and services
- Credit Rating Service ECRL's core credit rating service delivering independent creditworthiness opinions across long-term, short-term, and entity ratings for companies, banks, financial institutions, insurance companies, NGOs, and bond issuers in Bangladesh. Pricing is quote-based per entity type, complexity, and scope, with multi-year surveillance engagements.
- Bond Rating Service Credit rating service for companies issuing bonds, including subordinated bonds, mudaraba bonds, and other debt instruments, providing independent assessments to support market credibility and investor appetite for Bangladesh debt issuances.
- Unsolicited Rating Policy Service
Quantifiable outcome
- ECRL has rated major Bangladeshi corporations achieving top-tier ratings (AAA) including IPDC Finance, Walton Hi-Tech, United Power Generation, and Bangladesh Submarine Cables
- +1 more outcomes
Companies that use Emerging Credit Rating
Customer profileNamed customers10 records
Segments4 records
Ideal customer profiles4 records
Emerging Credit Rating technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Emerging Credit Rating partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core and strategic.
- Bangladesh Securities and Exchange Commission (BSEC)coreECRL obtained its credit rating license from BSEC in June 2010 as per Credit Rating Companies Rules 1996. BSEC is the primary regulator for credit rating companies in Bangladesh.
- Bangladesh BankcoreECRL received recognition as an External Credit Assessment Institution (ECAI) from Bangladesh Bank in October 2010, enabling banks to use ECRL ratings for capital adequacy calculations.
- ACRAA (Arab Credit Rating Agencies Association)strategicECRL follows the ACRAA Code of Conduct, indicating membership and alignment with regional credit rating standards.
- IOSCO (International Organization of Securities Commissions)strategicECRL adheres to IOSCO Code of Conduct for credit rating agencies, demonstrating commitment to international standards.
Scale indicators3 records
Recent moves6 records
Expansion highlights4 records
Emerging Credit Rating competitors and assessment
Company assessmentMarket position
Competitive moat3 records
Key risks5 records
Key highlights6 records
Customer concentration
Emerging Credit Rating social profiles
Digital presenceEmerging Credit Rating compliance and trust
Trust signalCompliance5 records
Emerging Credit Rating financial estimates
Financial estimateRevenue estimate
Valuation estimate
Emerging Credit Rating leadership team
Management profileNumber of profiles
Profiles3 records
Emerging Credit Rating funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Emerging Credit Rating M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Emerging Credit Rating
What does Emerging Credit Rating do?
Emerging Credit Rating Limited (ECRL) is a Bangladesh-based credit rating agency that delivers independent creditworthiness opinions for corporate entities, banks, financial institutions, insurance companies, NGOs, and bond issuers. The company offers entity ratings, annual surveillance ratings, and bond ratings using a proprietary methodology that evaluates financial performance, business scale, management quality, profitability, loan repayment history, industry prospects, and macroeconomic factors. ECRL also publishes a monthly economic and business review magazine, industry analysis reports, and working papers supporting the Bangladesh financial ecosystem.
Is Emerging Credit Rating a public or private company?
Emerging Credit Rating is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Emerging Credit Rating founded?
Emerging Credit Rating was founded in 2009. It employs 51 to 100 people.
Where is Emerging Credit Rating based?
Emerging Credit Rating is headquartered in Dhaka, Bangladesh, in the Asia region.
How does Emerging Credit Rating make money?
One revenue line is on record: credit Rating Services.
Does Emerging Credit Rating have an API?
No public API is recorded for Emerging Credit Rating.
What industry is Emerging Credit Rating in?
Emerging Credit Rating's product category is Credit Rating Services. Its primary akta.pro industry code is FSACAAAI, Equity Capital Markets Advisory (Equity Issuance Strategy & Readiness). Its NAICS code is 5223 and its SIC code is 6211.