Capital Intelligence Affirms Qatar Islamic Bank’s Long-Term Foreign Currency Rating at A+; Stable Outlook

Capital Intelligence (CI) has affirmed Qatar Islamic Bank’s (QIB) long-term foreign currency and short-term foreign currency ratings at ‘A+’ and ‘A1’ respectively, with a Stable Outlook.

Ratings Rationale

QIB’s robust franchise and market position as the largest Islamic bank in Qatar, as well as its favourable liquidity and funding profile contributed to the ratings affirmation. Liquidity is largely funded by customer deposits, which are mostly diversified and stable retail deposits, with a low dependence on foreign funding.

In addition, QIB has strong capitalization and quality of capital, supported by a well-capitalized banking system in Qatar. QIB also has stable asset quality with a robust loss absorpt...