Credit Ratings
A) Group's Rating:
S&P Global Ratings has updated the long-term rating on Al Baraka Banking Group B.S.C. to 'BB-' with a 'Stable' Outlook, while affirming the 'B' short-term rating of the bank.
ABG has also been rated A3 (short term) by Islamic International Rating Agency (IIRA). IIRA has also rated ABG on the national scale at A+ (bh) / A2 (bh) with a fiduciary score of 81-85, the highest level amongst Islamic Financial Institutions in the region.
B) Subsidiaries' rating:
Jordan Islamic Bank
Jordan Islamic Bank is rated BB+/A3 on an international scale and A+ on a national scale by Islamic International Rating Agency with Stable outlook (October 2018) and 'B+' long-term and 'B' short-term by S& P with stable outlook (September 2017).
Jordan Islamic Bank's is also rated BB- long -term by Fitch Ratings with Stable outlook and by Capital Intelligence Ratings (CI), which has affirmed (JIB) Long and Short - Term Foreign Currency Ratings (FCRs) at BB- and B respectively with a negative outlook. (December 2018)
Al Baraka Bank Egypt
AlBaraka Egypt Bank is rated B-/B on an international scale and A-/A2 on a national scale by Islamic International Rating Agency with Positive outlook (January 2019)
Al Baraka Bank Tunisia
Al Baraka Bank Tunisia is rated BB/B (LCY) and BB-/B (FCY) on an international scale and BBB+/A2 on a national scale by Islamic International Rating Agency with Stable outlook (November 2018)
Al Baraka Islamic Bank
Al Baraka Islamic Bank is rated BBB-/A3 on an international scale and BBB+/A3 on a national scale by Islamic International Rating Agency with Stable outlook (November 2018)
Al Baraka Bank Sudan
Al Baraka Bank Sudan is rated A-/A2 on a national scale by Islamic International Rating Agency with a Stable outlook (October 2018)
Al Baraka Turk Participation Bank
Al Baraka Turk Katilim Bankasi is rated BBB-/A3 (LCY) and BB+/A3 (FCY) on an international scale and AA-/A1 on a national scale by Islamic International Rating Agency with Negative outlook (November 2018). Al Baraka Turk Katilim Bankasi is also rated B/Stable/B by S&P. (October 2018)
Banque Al Baraka D'Algerie
Banque Al Baraka D'Algerie is rated BBB/A2 (LCY) and BBB-/A3 (FCY) on an international scale and A+/A1 on a national scale by Islamic International Rating Agency with Stable outlook (November 2018)
Al Baraka Bank (Pakistan) Limited
Al Baraka Bank (Pakistan) Limited is rated A+/A-1 by JCR-VIS Credit Rating Company with a Stable outlook (November 2017)
Al Baraka Bank Lebanon
Al Baraka Bank Lebanon is rated BBB-/A3 on a national scale by Islamic International Rating Agency with Stable outlook (December 2018)
Al Baraka Bank Syria
Al Baraka Bank Syria is rated BBB on a domestic financial risk assessment scale by Islamic International Rating Agency (November 2018)