IslamicFinance.de

Capital Intelligence (CI) announced Bahrain-based AlBaraka Islamic Bank (AIB)'s Long and Short-Term Foreign Currency ratings at BB+ and A3 respectively. These ratings integrate a one-notch uplift on the basis of AlBaraka Banking Group (ABG) ownership, the parent, the support level being affirmed at 2.
Although it's a small bank, AIB now requests a significant market share of Islamic banking assets in Pakistan through its recent acquisition in that country.
AIB's strenghts are liquidity and capital adequacy.

Capital Intelligence (CI) has lowered the Financial Strength Rating (FSR) of Bank AlJazira (BAJ), based in Jeddah, Saudi Arabia, to 'BBB' from 'BBB+'. The bank has now a stable outlook.
At the end of 2010, the Bank's total staff was 1,616.

Capital Intelligence (CI) has affirmed Tadhamon International Islamic Bank's (TIIB) Long-Term and Short-Term Foreign Currency ratings at B and B respectively.
The outlook on all ratings is 'Stable'. The operating environment remains very challenging with difficult banking conditions, and this position is reflected in the bank's ratings.

Capital Intelligence (CI) has affirmed Tadhamon International Islamic Bank's (TIIB) Long-Term and Short-Term Foreign Currency ratings at B and B respectively.
The outlook on all ratings is 'Stable'. The operating environment remains very challenging with difficult banking conditions, and this position is reflected in the bank's ratings.

Capital Intelligence (CI) has affirmed the ratings for Gulf Finance House (GFH) and subsequently withdrawn the ratings at the rated entity's request.
The Outlook for the Foreign Currency Long and Short-Term ratings of BB and B respectively and Financial Strength Rating of BB was 'negative' at the time of withdrawal. The outlook and ratings reflect CI's opinion that GFH's capacity for the timely fulfilment of its financial obligations remains vulnerable to ongoing adverse changes in internal or external circumstances.
GFH commenced operations in October 1999 as an Islamic investment bank operating under a wholesale banking licence granted by the Central Bank of Bahrain. A large share of its business has focused on major infrastructure projects; notably in the real estate sector.