Correction: Sharjah Islamic Bank – Ratings Affirmed

(This announcement replaces the version published on 20 June 2025 and corrects an error in the participation disclosure.)

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 Sharjah Islamic Bank (SIB or the Bank) at ‘A-’ and ‘A2’, respectively. At the same time, CI Ratings has affirmed SIB’s Bank Standalone Rating (BSR) of ‘bbb-’, Core Financial Strength (CFS) rating of ‘bb+’, and Extraordinary Support Level (ESL) of High. The Outlook for the LT FCR and BSR remains Stable.

SIB’s LT FCR is set three notches above the BSR to reflect the high likelihood of extraordinary support from the government in case of need. The UAE government (sovereign ratings: ‘AA-’/‘A1+’/Stable) has demonstrated support in the past and, in CI’s view, would be able and willing to continue to provide such support in the future, particularly…