IslamicFinance.de

The Islamic International Rating Agency (IIRA) and Dagong Global Credit Rating Company (Dagong) have jointly maintained foreign and local currency ratings assigned to the Al Baraka Banking Group (ABG) on the international scale at BBB+/A3. The national scale ratings of ABG are assessed at A+(bh)/A2(bh) and denote its creditworthiness relative to the local environment. Political stability and policy continuity remain areas of concern in ABG’s core countries including Algeria, Jordan and Egypt, and most notably Turkey. On this account, outlook on the ratings is assessed as 'Negative'. Despite the increasing operating risks, the Group’s overall profitability remains steady and wealth creation capability is relatively strong.