Kurdistan International Islamic Bank – Ratings Affirmed

Ref: IQ0 1 8 20 CRA00- 0 1 7 October 2 02 1

Kurdistan International Islamic Bank – Ratings Affirmed

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed Kurdistan International Islamic Bank for Investment and Development’s (KIB) Long-Term Foreign Currency Rating ( LT FCR ) and Short-Term Foreign Currency Rating ( ST FCR ) of ‘B-’ and ‘B’, respectively. The LT FCR Outlook is Stable. CI Ratings has also affirmed KIB’s B ank S tandalone Rating (BSR) of ‘b-’ with a Stable Outlook, C ore F inancial S trength (CFS) of ‘bb-’, and E xtraordinary S upport L evel (ESL) of Uncertain.

At the same time, CI has affirmed KIB’s 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.

CI considers the…