Qatar Islamic Bank’s Ratings Affirmed with a Stable Outlook

Qatar Islamic Bank’s Ratings Affirmed with a Stable Outlook

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 Qatar Islamic Bank (QIB) at ‘A + ’ and ‘A1’ respectively. At the same time, CI Ratings has affirmed QIB’s Bank Standalone Rating (BSR) of ‘ a- ’, Core Financial Strength (CFS) rating of ‘ a- ’ and Extraordinary Support Level (ESL) of High. The Outlook for the LT FCR and BSR is Stable.

The Bank’s LT FCR is set two notches above the BSR to reflect the high likelihood of official extraordinary support in case of need. This is based on the government’s strong track record of support for Qatari banks. At different points in time such…