Al-Taif Islamic Bank – Ratings Assigned

Al-Taif Islamic Bank – Ratings Assigned

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has assigned a first-time L ong- Term F oreign C urrency R ating (LT FCR) and S hort- T erm F oreign C urrency R ating (ST FCR) to Al-Taif Islamic Bank ( TIB) of ‘B-’ and ‘B’, respectively. The LT FCR Outlook is Stable. At the same time, CI Ratings has assigned TIB a B ank S tandalone R ating (BSR) of ‘b-’ with a Stable Outlook, a C ore Financial Strength (CFS) r ating of ‘b’, and an E xtraordinary S upport L evel (ESL) of Uncertain.

CI has also assigned TIB Long- and Short-Term Ratings on the Iraq National Scale of ‘iqBBB-’ and ‘iqA3’, respectively, with a Stable Outlook. These 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 Iraq’s O perating Environment Risk Anchor (O PERA ) of…