Al Janoob Islamic Bank – Ratings Affirmed

5 November 2025

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 Janoob Islamic Bank (JIB or the Bank) at ‘B-’ and ‘B’, respectively. At the same time, CI Ratings has affirmed JIB’s Bank Standalone Rating (BSR) of ‘b-’, Core Financial Strength (CFS) rating of ‘b+’ and Extraordinary Support Level (ESL) of Uncertain. The Outlook for both the LT FCR and BSR is Stable.

CI has also affirmed JIB’s Long- and Short-Term Ratings on the Iraq National Scale at ‘iqBBB’ and ‘iqA3’, respectively, with a Stable Outlook. These ratings are supported and constrained by the same factors as the CFS, as outlined below.

The Bank’s BSR is derived from a CFS rating of ‘b+’ and an Operating Environment Risk Anchor (OPERA) of ‘c+’. The CFS is supported by the Bank’s good balance sheet leverage ratio and capitalisation (after…