Moody’s Affirms Qatar Islamic Bank’s Long-Term Deposit Rating at A1, Stable Outlook

Moody’s Investors Service (Moody’s) has affirmed Qatar Islamic Bank’s (QIB) long term deposit rating at A1, with a Stable Outlook, according to local media reports.

With a market share of around 10.5% of Qatar’s banking system assets, QIB was reported to remain Qatar’s second-largest bank and the largest Islamic bank, with a consolidated asset base of QAR 170 billion, based on a Credit Opinion Report by Moody’s.

According to the report, QIB’s rating reflects the bank’s robust asset quality, sufficient capital buffers, good profitability and limited reliance on market funding. Meanwhile, the Stable Outlook takes into consideration Moody...