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International International Rating Agency (IIRA) has reaffirmed Al Baraka Bank Tunisia’s (ABBT) ratings

Islamic International Rating Agency (IIRA) has reaffirmed Al Baraka Bank Tunisia’s (ABBT) ratings on the international and national scales, with a ‘Stable’ outlook. ABBT is assigned a foreign currency rating of ‘BB-/B’ (Double B Minus / Single B), and a local currency rating of ‘BB/B’ (Double B / Single B), on the international scale. On the national scale, ABBT’s rating has been maintained at ‘BBB+ (TD) /A2 (TD)’ (Triple B Plus (TD) / Single A Two (TD)).

The bank’s overall fiduciary score is in the range of ‘71 – 75’, which implies that the rights of various stakeholders are adequately protected. The fiduciary score is a composite score of three sub-sections, namely ‘Asset Manager Quality’, ‘Corporate Governance’ and ‘Shari’ah Governance’.

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