KARACHI - State Bank of Pakistan has issued credit bureaus regulations and licensing criteria for setting up credit bureaus in private sector in Pakistan vide its notification issued on April 15, 2016. The regulations prescribe regulatory requirements with respect to corporate governance, data security, operational efficiency and consumer grievance handling for credit bureaus. The licensing criteria has been made public to ensure transparency and guidance for prospective applicants about application procedure and high level description of key parameters for evaluation of applications for the establishment of credit bureaus.