Moody’s Assigns First Time Caa2/NP Bank Deposit Ratings for Al-Anssari Islamic Investment and Financing Bank

Moody’s Investors Service (Moody’s) has assigned first time local and foreign currency long-term and short-term Caa2/NP bank deposit ratings for Iraq-based Shariah-compliant bank, Al-Anssari Islamic Investment and Financing Bank (AIIFB). In addition, Moody’s assigned the bank a Baseline Credit Assessment (BCA) and Adjusted BCA of caa2. The long-term deposit ratings’ outlook is stable.

Ratings Rationale

AIIFB’s Caa2 long-term deposit ratings factor the bank’s caa2 BCA and has a low probability of support from the government of Iraq (Caa1 stable), given the country’s track record of previous private bank failures and the small size of the bank within the system. The bank’s caa2 BCA reflects robust capita...