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Islamic Finance Briefing - Categorized | Banking more

AlBaraka Islamic Bank’s ratings affirmed

Posted on 22 June 2012

Capital Intelligence (CI), the international credit rating agency, announced that it has affirmed Bahrain-based AlBaraka Islamic Bank (AIB)’s Financial Strength Rating (FSR) at ‘BB’ on the basis of its comfortable liquidity and increased capital adequacy ratio at end Q1 2012.
The FSR remains constrained by a high ratio of impaired financings, concentration risks, very weak profitability and increased risk exposure to Pakistan. In view of the Bank’s strong ownership through AlBaraka Banking Group (ABG), the Bank’s Long and Short-Term Foreign Currency ratings are maintained at ‘BB+’ and ‘A3′ respectively. (Press Release)

 
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