IIRA Affirms Fiduciary Ratings of Al Baraka Bank Egypt

Manama, December 17, 2020–The Islamic International Rating Agency (“IIRA”) has reaffirmed the outstanding foreign currency rating of ‘B-/B’ (Single B Minus/ Single B), and a local currency rating of ‘B/B’ (Single B/Single B) on the international scale, assigned to Al Baraka Bank Egypt (“Al Baraka Egypt” or “the Bank”). The national scale rating has also been affirmed at ‘A (eg) / A1(eg)’ (Single A (eg) /A one (eg)). The outlook on the ratings is ‘Stable’.

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