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Outstanding Ratings

Sr.No Entity Sector Rating Type Dissemination
Date
Action Rating Outlook Rating Watch
1 Alhamra Islamic Money Market Fund (Formerly: MCB Pakistan Frequent Payout Fund)
Press Release | Report | History
Capital Markets Stability Rating 12-Feb-26 Maintain AA+(f) Stable -
2 JS Fixed Term Munafa Fund
Press Release | Report | History
Capital Markets Stability Rating 11-Feb-26 Maintain AAA(f) Stable -
3 Pak Oman Micro Finance Fund
Press Release | Report | History
Capital Markets Stability Rating 01-Jan-26 Maintain A-(f) Stable -
4 JS Fixed Term Munafa Fund II
Press Release | Report | History
Capital Markets Stability Rating 30-Dec-25 Initial AAA(f) Stable -
5 Mahaana Islamic Cash Fund
Press Release | Report | History
Capital Markets Stability Rating 26-Dec-25 Maintain AA+(f) Stable -
6 Alfalah Financial Sector Income Fund
Press Release | Report | History
Capital Markets Stability Rating 24-Dec-25 Maintain A+(f) Stable -
7 Alfalah Islamic Money Market Fund
Press Release | Report | History
Capital Markets Stability Rating 24-Dec-25 Maintain AA(f) Stable -
8 Alfalah Islamic Sovereign Fund
Press Release | Report | History
Capital Markets Stability Rating 24-Dec-25 Maintain AA+(f) Stable -
9 NIT Government Bond Fund
Press Release | Report | History
Capital Markets Stability Rating 18-Dec-25 Maintain AA(f) Stable -
10 NIT Income Fund
Press Release | Report | History
Capital Markets Stability Rating 18-Dec-25 Maintain AA-(f) Stable -
11 NIT Islamic Income Fund
Press Release | Report | History
Capital Markets Stability Rating 18-Dec-25 Maintain AA-(f) Stable -
12 NIT Money Market Fund
Press Release | Report | History
Capital Markets Stability Rating 18-Dec-25 Maintain AAA(f) Stable -
13 JS Money Market Fund
Press Release | Report | History
Capital Markets Stability Rating 11-Dec-25 Maintain AA+(f) Stable -
14 Alhamra Government Securities Fund
Press Release | Report | History
Capital Markets Stability Rating 11-Dec-25 Maintain AA(f) Stable -
15 Pak Oman Daily Dividend Fund
Press Release | Report | History
Capital Markets Stability Rating 11-Dec-25 Maintain AA(f) Stable -
16 Alhamra Cash Management Optimizer
Press Release | Report | History
Capital Markets Stability Rating 11-Dec-25 Maintain AA(f) Stable -
17 JS Islamic Income Fund
Press Release | Report | History
Capital Markets Stability Rating 10-Dec-25 Maintain AA-(f) Stable -
18 JS Cash Fund
Press Release | Report | History
Capital Markets Stability Rating 10-Dec-25 Maintain AA+(f) Stable -
19 JS Government Securities Fund
Press Release | Report | History
Capital Markets Stability Rating 10-Dec-25 Maintain AA(f) Stable -
20 JS Income Fund
Press Release | Report | History
Capital Markets Stability Rating 10-Dec-25 Maintain A+(f) Stable -
21 JS Microfinance Sector Fund
Press Release | Report | History
Capital Markets Stability Rating 10-Dec-25 Maintain A(f) Stable -
22 JS Islamic Money Market Fund
Press Release | Report | History
Capital Markets Stability Rating 10-Dec-25 Maintain AA(f) Stable -
23 ABL Islamic Cash Fund
Press Release | Report | History
Capital Markets Stability Rating 04-Dec-25 Downgrade AA(f) Stable -
24 Atlas Islamic Cash Fund
Press Release | Report | History
Capital Markets Stability Rating 03-Dec-25 Maintain AA(f) Stable -
25 Pak Qatar Asan Munafa Plan under Pak Qatar Islamic Cash Fund
Press Release | Report | History
Capital Markets Stability Rating 03-Dec-25 Maintain AA(f) Stable -
26 Pak Qatar Cash Plan under Pak Qatar Islamic Cash Fund
Press Release | Report | History
Capital Markets Stability Rating 03-Dec-25 Maintain AA(f) Stable -
27 Pak Qatar Daily Dividend Plan under Pak Qatar Islamic Cash Fund
Press Release | Report | History
Capital Markets Stability Rating 03-Dec-25 Maintain AA(f) Stable -
28 Pak Qatar Income Plan under Pak Qatar Islamic Income Fund
Press Release | Report | History
Capital Markets Stability Rating 03-Dec-25 Maintain AA-(f) Stable -
29 Pak Qatar Khalis Bachat Plan under Pak Qatar Islamic Income Fund
Press Release | Report | History
Capital Markets Stability Rating 03-Dec-25 Maintain A(f) Stable -
30 Pak Qatar Monthly Income Plan under Pak Qatar Islamic Income Fund
Press Release | Report | History
Capital Markets Stability Rating 03-Dec-25 Maintain A+(f) Stable -
31 AL Habib Government Securities Fund
Press Release | Report | History
Capital Markets Stability Rating 27-Nov-25 Maintain AAA(f) Stable -
32 Faysal Islamic Special Income Fund
Press Release | Report | History
Capital Markets Stability Rating 21-Nov-25 Maintain AA(f) Stable -
33 Faysal Halal Amdani Fund
Press Release | Report | History
Capital Markets Stability Rating 21-Nov-25 Maintain AA(f) Stable -
34 AKD Aggressive Income Fund
Press Release | Report | History
Capital Markets Stability Rating 19-Nov-25 Maintain A+(f) Stable -
35 AKD Cash Fund
Press Release | Report | History
Capital Markets Stability Rating 19-Nov-25 Maintain AA+(f) Stable -
36 AKD Islamic Cash Fund
Press Release | Report | History
Capital Markets Stability Rating 19-Nov-25 Maintain AA(f) Stable -
37 AKD Islamic Income Fund
Press Release | Report | History
Capital Markets Stability Rating 19-Nov-25 Maintain AA-(f) Stable -
38 786 Smart Fund
Press Release | Report | History
Capital Markets Stability Rating 18-Nov-25 Maintain AA-(f) Stable -
39 Alfalah GHP Income Fund
Press Release | Report | History
Capital Markets Stability Rating 12-Nov-25 Maintain AA-(f) Stable -
40 Alfalah GHP Cash Fund
Press Release | Report | History
Capital Markets Stability Rating 12-Nov-25 Maintain AA+(f) Stable -
41 Alfalah Islamic Rozana Amdani Fund
Press Release | Report | History
Capital Markets Stability Rating 12-Nov-25 Maintain AA(f) Stable -
42 Alfalah GHP Islamic Income Fund
Press Release | Report | History
Capital Markets Stability Rating 12-Nov-25 Maintain AA-(f) Stable -
43 Alfalah GHP Money Market Fund
Press Release | Report | History
Capital Markets Stability Rating 12-Nov-25 Maintain AA+(f) Stable -
44 Alfalah GHP Sovereign Fund
Press Release | Report | History
Capital Markets Stability Rating 12-Nov-25 Maintain AA-(f) Stable -
45 Alfalah GHP Income Multiplier Fund
Press Release | Report | History
Capital Markets Stability Rating 12-Nov-25 Maintain A+(f) Stable -
46 AWT Financial Sector Income Fund
Press Release | Report | History
Capital Markets Stability Rating 07-Nov-25 Maintain A+(f) Stable -
47 AWT Income Fund
Press Release | Report | History
Capital Markets Stability Rating 07-Nov-25 Maintain A+(f) Stable -
48 AWT Islamic Money Market Fund
Press Release | Report | History
Capital Markets Stability Rating 07-Nov-25 Maintain AA+(f) Stable -
49 AWT Islamic Income Fund
Press Release | Report | History
Capital Markets Stability Rating 07-Nov-25 Maintain A+(f) Stable -
50 Lucky Islamic Money Market Fund
Press Release | Report | History
Capital Markets Stability Rating 04-Nov-25 Maintain AA+(f) Stable -
51 Lucky Islamic Income Fund
Press Release | Report | History
Capital Markets Stability Rating 04-Nov-25 Maintain AA(f) Stable -
52 MCB Government Securities Fund
Press Release | Report | History
Capital Markets Stability Rating 03-Nov-25 Upgrade AA(f) Stable -
53 Lakson Income Fund
Press Release | Report | History
Capital Markets Stability Rating 31-Oct-25 Maintain A+(f) Stable -
54 Lakson Islamic Money Market Fund
Press Release | Report | History
Capital Markets Stability Rating 31-Oct-25 Maintain AA(f) Stable -
55 Lakson Money Market Fund
Press Release | Report | History
Capital Markets Stability Rating 31-Oct-25 Maintain AA+(f) Stable -
56 Atlas Income Fund
Press Release | Report | History
Capital Markets Stability Rating 27-Oct-25 Maintain AA-(f) Stable -
57 Atlas Islamic Income Fund
Press Release | Report | History
Capital Markets Stability Rating 27-Oct-25 Maintain AA-(f) Stable -
58 Atlas Islamic Money Market Fund
Press Release | Report | History
Capital Markets Stability Rating 27-Oct-25 Maintain AA(f) Stable -
59 Atlas Liquid Fund
Press Release | Report | History
Capital Markets Stability Rating 27-Oct-25 Maintain AA+(f) Stable -
60 Atlas Money Market Fund
Press Release | Report | History
Capital Markets Stability Rating 27-Oct-25 Maintain AA+(f) Stable -
61 Atlas Sovereign Fund
Press Release | Report | History
Capital Markets Stability Rating 27-Oct-25 Maintain AA-(f) Stable -
62 Al Ameen Islamic Income Fund
Press Release | Report | History
Capital Markets Stability Rating 27-Oct-25 Maintain AA(f) Stable -
63 Pakistan Income Fund
Press Release | Report | History
Capital Markets Stability Rating 23-Oct-25 Maintain AA(f) Stable -
64 Alhamra Islamic Income Fund
Press Release | Report | History
Capital Markets Stability Rating 23-Oct-25 Maintain AA(f) Stable -
65 Alhamra Daily Dividend Fund
Press Release | Report | History
Capital Markets Stability Rating 23-Oct-25 Maintain AA-(f) Stable -
66 Pakistan Income Enhancement Fund
Press Release | Report | History
Capital Markets Stability Rating 23-Oct-25 Maintain A+(f) Stable -
67 MCB Pakistan Sovereign Fund
Press Release | Report | History
Capital Markets Stability Rating 23-Oct-25 Maintain AA-(f) Stable -
68 MCB DCF Income Fund
Press Release | Report | History
Capital Markets Stability Rating 23-Oct-25 Maintain AA-(f) Stable -
69 MCB Cash Management Optimizer
Press Release | Report | History
Capital Markets Stability Rating 23-Oct-25 Maintain AA+(f) Stable -
70 Pakistan Cash Management Fund
Press Release | Report | History
Capital Markets Stability Rating 23-Oct-25 Maintain AA+(f) Stable -
71 AL Habib Income Fund
Press Release | Report | History
Capital Markets Stability Rating 22-Oct-25 Maintain AA(f) Stable -
72 AL Habib Islamic Cash Fund
Press Release | Report | History
Capital Markets Stability Rating 22-Oct-25 Maintain AA+(f) Stable -
73 AL Habib Islamic Income Fund
Press Release | Report | History
Capital Markets Stability Rating 22-Oct-25 Maintain AA(f) Stable -
74 AL Habib Islamic Savings Fund
Press Release | Report | History
Capital Markets Stability Rating 22-Oct-25 Maintain AA(f) Stable -
75 NBP Riba Free Saving Fund
Press Release | Report | History
Capital Markets Stability Rating 17-Oct-25 Maintain A+(f) Stable -
76 NBP Mahana Amdani Fund
Press Release | Report | History
Capital Markets Stability Rating 17-Oct-25 Maintain AA-(f) Stable -
77 NBP Government Securities Plan - IV
Press Release | Report | History
Capital Markets Stability Rating 17-Oct-25 Maintain AA(f) Stable -
78 NBP Income Opportunity Fund
Press Release | Report | History
Capital Markets Stability Rating 17-Oct-25 Maintain A+(f) Stable -
79 NBP Islamic Government Securities Plan – III
Press Release | Report | History
Capital Markets Stability Rating 17-Oct-25 Maintain AA(f) Stable -
80 NBP Islamic Income Fund
Press Release | Report | History
Capital Markets Stability Rating 17-Oct-25 Maintain A+(f) Stable -
81 NBP Islamic Mahana Amdani Fund
Press Release | Report | History
Capital Markets Stability Rating 17-Oct-25 Maintain A+(f) Stable -
82 NBP Islamic Money Market Fund
Press Release | Report | History
Capital Markets Stability Rating 17-Oct-25 Maintain AA(f) Stable -
83 NBP Money Market Fund
Press Release | Report | History
Capital Markets Stability Rating 17-Oct-25 Maintain AA(f) Stable -
84 NBP Savings Fund
Press Release | Report | History
Capital Markets Stability Rating 17-Oct-25 Maintain A+(f) Stable -
85 NBP Financial Sector Income Fund
Press Release | Report | History
Capital Markets Stability Rating 17-Oct-25 Maintain A+(f) Stable -
86 NBP Government Securities Liquid Fund
Press Release | Report | History
Capital Markets Stability Rating 17-Oct-25 Maintain AAA(f) Stable -
87 NBP Government Securities Savings Fund
Press Release | Report | History
Capital Markets Stability Rating 17-Oct-25 Maintain AA-(f) Stable -
88 NBP Islamic Daily Dividend Fund
Press Release | Report | History
Capital Markets Stability Rating 17-Oct-25 Maintain AA+(f) Stable -
89 NBP Islamic Savings Fund
Press Release | Report | History
Capital Markets Stability Rating 17-Oct-25 Maintain AA-(f) Stable -
90 ABL Islamic Income Fund
Press Release | Report | History
Capital Markets Stability Rating 16-Oct-25 Maintain A+(f) Stable -
91 ABL Cash Fund
Press Release | Report | History
Capital Markets Stability Rating 15-Oct-25 Maintain AA+(f) Stable -
92 ABL Financial Sector Fund
Press Release | Report | History
Capital Markets Stability Rating 15-Oct-25 Maintain A+(f) Stable -
93 ABL Government Securities Fund
Press Release | Report | History
Capital Markets Stability Rating 15-Oct-25 Maintain AA-(f) Stable -
94 ABL Income Fund
Press Release | Report | History
Capital Markets Stability Rating 15-Oct-25 Maintain A+(f) Stable -
95 ABL Money Market Fund
Press Release | Report | History
Capital Markets Stability Rating 15-Oct-25 Maintain AA+(f) Stable -
96 MCB Investment Savings Fund
Press Release | Report | History
Capital Markets Stability Rating 07-Oct-25 Initial AA+(f) Stable -
97 ABL Islamic Sovereign Fund
Press Release | Report | History
Capital Markets Stability Rating 30-Sep-25 Maintain AA(f) Stable -
98 ABL Islamic Money Market Fund
Press Release | Report | History
Capital Markets Stability Rating 25-Sep-25 Maintain AA+(f) Stable Yes
99 Askari High Yield Scheme
Press Release | Report | History
Capital Markets Stability Rating 19-Sep-25 Maintain A(f) Stable -
100 Pak Oman Income Fund (Formerly Pak Oman Government Securities Fund)
Press Release | Report | History
Capital Markets Stability Rating 19-Sep-25 Maintain A+(f) Stable -
101 Pak Oman Advantage Islamic Income Fund
Press Release | Report | History
Capital Markets Stability Rating 19-Sep-25 Maintain A+(f) Stable -
102 UBL Cash Fund
Press Release | Report | History
Capital Markets Stability Rating 19-Sep-25 Maintain AA+(f) Stable -
Complaints
Ms. Iram Tahir | Compliance Officer

+92 42 3586 9504-6 | compliance@pacra.com

DISCLAIMER
In case your complaint has not been properly redressed by us, you may lodge your complaint with SECP.