Dubai Islamic Bank PJSC (DIB), the world’s oldest Shariah-compliant lender, may need to boost capital to absorb bad loans stemming from a real estate slump to avert a possible ratings downgrade.
The biggest the United Arab Emirates lender complying with Muslim banking rules was placed on ratings watch because loan quality “remains very weak compared to peers” and it hasn’t set aside enough money to cover losses, Moody’s Investors Service said Dec. 6………………………………………..Full Article: Source