Al Baraka Islamic Bank – Ratings Affirmed

9 July 2026

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of Al Baraka Islamic Bank (AIB or the Bank) at ‘B-’ and at ‘B’, respectively. At the same time, CI Ratings has affirmed AIB’s Bank Standalone Rating (BSR) at ‘b-’, Core Financial Strength (CFS) rating of ‘b-’ and Extraordinary Support Level (ESL) of Uncertain. The Outlook on the ratings remains Stable.

AIB is a comparatively small bank with limited market shares of Sharia-compliant assets and deposits in each of Bahrain and Pakistan, despite a series of past mergers at subsidiary ABP. The Bank has a relatively long track record, but the business model − focused on corporate and, to a lesser extent, retail banking − is considered vulnerable given the balance sheet concentration risks. Revenue generation is also dependent on ABP in Pakistan, which makes up 38% of…