COUNTRY RISK REPORT ALONG THE BELT AND ROAD (2022)

IIRA Maintains Fiduciary Ratings of Al Baraka Group

IIRA Reaffirms Sovereign Ratings of Malaysia

IIRA Reaffirms Sovereign Ratings of Turkiye

IIRA Maintains Ratings of the Kuveyt Türk Participation Bank

IIRA Maintains Credit Ratings of the International Islamic Trade Finance Corporation

IIRA Revises Ratings of Al Rajih Islamic Bank

IIRA Reaffirms Fiduciary Ratings to Iraq Noor Islamic Bank while placing the ratings on a ‘Rating Watch’

IIRA reaffirms Shari’a Quality Rating of Jordan Islamic Bank (JIB)

IIRA places ratings of Al Janoob Islamic Bank for Investment and Finance on ‘Rating Watch’

IIRA Maintains Shari’ah Compliance and Fiduciary Rating of “SCFR (ksa) 1” on National Scale and assesses SCFR (Global) at ‘High’ for Al Rajhi Takaful (ART)

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Date	Company	Region	Country
Jun-2024	Al Baraka Group	gcc	Bahrain
Jun-2024	Malaysia	south asia	Malaysia
Jun-2024	Republic of Türkiye	levant	Türkiye
Jun-2024	Kuveyt Turk Participation Bank	levant	Türkiye
May-2024	International Islamic Trade Finance Corporation	gcc	Kingdom of Saudi Arabia
Apr-2024	Al Rajih Islamic Bank for Investment and Finance	levant	Iraq
Apr-2024	Iraq Noor Islamic Bank	levant	Iraq
Mar-2024	Jordan Islamic Bank (SQR)	levant	Jordan
Mar-2024	Al Janoub Islamic Bank for Investment and Finance	levant	Iraq
Mar-2024	Al Rajhi Takaful	gcc	Kingdom of Saudi Arabia
Feb-2024	Iraqi Islamic Bank for Investment and Development	levant	Iraq
Jan-2024	ABC Islamic Bank	gcc	Bahrain
Jan-2024	Libyan Islamic Bank	north africa	State of Libya
Dec-2023	Dubai Islamic Bank	gcc	UAE
Dec-2023	Jordan Islamic Bank - Credit Rating	levant	Jordan
Dec-2023	The Islamic Insurance Company PLC	levant	Jordan
Nov-2023	Al Baraka Bank Syria	levant	Syria
Nov-2023	International Islamic Bank	levant	Iraq
Nov-2023	Trust International Islamic Bank	levant	Iraq
Oct-2023	Faysal Bank Limited(FBL)	south asia	Pakistan
Aug-2023	Republic of Türkiye	levant	Türkiye
Aug-2023	Malaysia	south asia	Malaysia
Jul-2023	Al Baraka Bank Tunisia	north africa	Tunisia
Jul-2023	Asia Aliraq Islamic Bank For Investment and Finance	levant	Iraq
Jul-2023	Kingdom of Bahrain	gcc	Bahrain
Jun-2023	Al Baraka Bank Sudan	north africa	Sudan
Jun-2023	Omdurman National Bank	north africa	Sudan
Jun-2023	Bank of Khartoum	north africa	Sudan
Jun-2023	Faisal Islamic Bank	north africa	Sudan
Jun-2023	United Capital Bank	north africa	Sudan
Jun-2023	Al Baraka Insurance Company	north africa	Sudan
Jun-2023	Islamic Insurance Company	north africa	Sudan
Jun-2023	Financial Investment Bank	north africa	Sudan
Jun-2023	Balad Bank	north africa	Sudan
Jun-2023	Al Baraka Islamic Bank B.S.C.(c)	gcc	Bahrain
Jun-2023	Bank Al Jazira	gcc	Kingdom of Saudi Arabia
May-2023	Kuveyt Turk Participation Bank	levant	Türkiye
Mar-2023	Bank of Khartoum	north africa	Sudan
Mar-2023	Al Rajih Islamic Bank for Investment and Finance	levant	Iraq
Mar-2023	Islamic Insurance Company	north africa	Sudan
Mar-2023	International Islamic Trade Finance Corporation	gcc	Kingdom of Saudi Arabia
Mar-2023	Al Rajhi Takaful	gcc	Kingdom of Saudi Arabia
Feb-2023	Al Baraka Group	gcc	Bahrain
Jan-2023	Al Janoub Islamic Bank for Investment and Finance	levant	Iraq
Jan-2023	Sudatel Telecom Group Limited	north africa	Sudan
Jan-2023	Sudatel Telecom Group Limited - SDG1bn Sukuk	north africa	Sudan
Dec-2022	Faysal Bank Limited(FBL)	south asia	Pakistan
Dec-2022	Al Mustashar Islamic Bank for Investment and Finance	levant	Iraq
Dec-2022	Faisal Islamic Bank	north africa	Sudan
Nov-2022	Trust International Islamic Bank	levant	Iraq
Nov-2022	Al Baraka Bank Sudan	north africa	Sudan
Nov-2022	AlBaraka Bank Egypt	north africa	Egypt
Nov-2022	Asia Aliraq Islamic Bank For Investment and Finance	levant	Iraq
Oct-2022	Dubai Islamic Bank	gcc	UAE
Oct-2022	Jordan Islamic Bank - Credit Rating	levant	Jordan
Oct-2022	United Capital Bank	north africa	Sudan
Oct-2022	Sudatel Telecom Group Limited	north africa	Sudan
Oct-2022	Sudatel Telecom Group Limited - SDG1bn Sukuk	north africa	Sudan
Oct-2022	Iraq Noor Islamic Bank	levant	Iraq
Oct-2022	Al Baraka Bank Syria	levant	Syria
Sep-2022	Jordan Islamic Bank (SQR)	levant	Jordan
Aug-2022	ABC Islamic Bank	gcc	Bahrain
Aug-2022	Omdurman National Bank	north africa	Sudan
Aug-2022	Bank Al Jazira	gcc	Kingdom of Saudi Arabia
Jul-2022	The Islamic Insurance Company PLC	levant	Jordan
Jun-2022	Al Baraka Bank Tunisia	north africa	Tunisia
Jun-2022	K-Electric PKR 22bn	south asia	Pakistan
Jun-2022	Al Baraka Islamic Bank B.S.C.(c)	gcc	Bahrain
Jun-2022	Al Baraka Turk Participation Bank	levant	Türkiye
May-2022	Kuveyt Turk Participation Bank	levant	Türkiye
May-2022	Malaysia	south asia	Malaysia
Apr-2022	Republic of Türkiye	levant	Türkiye
Mar-2022	Balad Bank	north africa	Sudan
Mar-2022	Al-Mashreq Al-Arabi Islamic Bank for Investment	levant	Iraq
Feb-2022	Al Baraka Bank Sudan	north africa	Sudan
Feb-2022	Al Baraka Group	gcc	Bahrain
Feb-2022	Faysal Bank Limited(FBL)	south asia	Pakistan
Feb-2022	Al Baraka Insurance Company	north africa	Sudan
Feb-2022	Iraq Noor Islamic Bank	levant	Iraq
Jan-2022	ABC Islamic Bank	gcc	Bahrain
Jan-2022	K-Electric PKR 22bn	south asia	Pakistan
Dec-2021	International Islamic Trade Finance Corporation	gcc	Kingdom of Saudi Arabia
Dec-2021	United Capital Bank	north africa	Sudan
Dec-2021	Jordan Islamic Bank (SQR)	levant	Jordan
Nov-2021	Trust International Islamic Bank	levant	Iraq
Nov-2021	Omdurman National Bank	north africa	Sudan
Nov-2021	Bank Al Jazira	gcc	Kingdom of Saudi Arabia
Nov-2021	Al Rajhi Takaful	gcc	Kingdom of Saudi Arabia
Oct-2021	Al Baraka Bank Syria	levant	Syria
Oct-2021	Al Mustashar Islamic Bank for Investment and Finance	levant	Iraq
Sep-2021	Asia Aliraq Islamic Bank For Investment and Finance	levant	Iraq
Sep-2021	Al Baraka Bank Tunisia	north africa	Tunisia
Sep-2021	Al Baraka Islamic Bank B.S.C.(c)	gcc	Bahrain
Aug-2021	Dubai Islamic Bank	gcc	UAE
Aug-2021	Jordan Islamic Bank - Credit Rating	levant	Jordan
Aug-2021	Kingdom of Bahrain	gcc	Bahrain
Jul-2021	Al Baraka Turk Participation Bank	levant	Türkiye
Jul-2021	The Islamic Insurance Company PLC	levant	Jordan
Jun-2021	Kuveyt Turk Participation Bank	levant	Türkiye
Jun-2021	Republic of Türkiye	levant	Türkiye
Jun-2021	Faisal Islamic Bank	north africa	Sudan
Apr-2021	Malaysia	south asia	Malaysia
Mar-2021	Balad Bank	north africa	Sudan
Feb-2021	K-Electric PKR 22bn	south asia	Pakistan
Jan-2021	Al Baraka Bank Sudan	north africa	Sudan
Jan-2021	Al Baraka Insurance Company	north africa	Sudan
Jan-2021	Dubai Islamic Bank	gcc	UAE
Jan-2021	International Islamic Trade Finance Corporation	gcc	Kingdom of Saudi Arabia
Jan-2021	Omdurman National Bank	north africa	Sudan
Dec-2020	Jordan Islamic Bank (SQR)	levant	Jordan
Dec-2020	AlBaraka Bank Egypt	north africa	Egypt
Dec-2020	ABC Islamic Bank	gcc	Bahrain
Dec-2020	Jordan Islamic Bank - Credit Rating	levant	Jordan
Dec-2020	United Capital Bank	north africa	Sudan
Nov-2020	Faysal Bank Limited(FBL)	south asia	Pakistan
Nov-2020	Al Baraka Algeria	north africa	Algeria
Sep-2020	Al Baraka Bank Syria	levant	Syria
Sep-2020	Financial Investment Bank	north africa	Sudan
Sep-2020	Al Baraka Group	gcc	Bahrain
Sep-2020	Al Baraka Bank Tunisia	north africa	Tunisia
Jul-2020	Al Baraka Islamic Bank B.S.C.(c)	gcc	Bahrain
Jul-2020	Sudatel Telecom Group Limited - SDG1bn Sukuk	north africa	Sudan
Jul-2020	Kingdom of Bahrain	gcc	Bahrain
Jun-2020	Kuveyt Turk Participation Bank	levant	Türkiye
Jun-2020	Al Baraka Turk Participation Bank	levant	Türkiye
Jun-2020	Republic of Türkiye	levant	Türkiye
May-2020	Bank Al Jazira	gcc	Kingdom of Saudi Arabia
Apr-2020	Faisal Islamic Bank	north africa	Sudan
Apr-2020	Al Baraka Insurance Company	north africa	Sudan
Mar-2020	Malaysia	south asia	Malaysia
Mar-2020	Omdurman National Bank	north africa	Sudan
Mar-2020	Bank of Khartoum	north africa	Sudan
Mar-2020	United Capital Bank	north africa	Sudan
Feb-2020	Republic of Türkiye	levant	Türkiye
Feb-2020	Balad Bank	north africa	Sudan
Feb-2020	Sudatel Telecom Group Limited	north africa	Sudan
Jan-2020	AlBaraka Bank Egypt	north africa	Egypt
Jan-2020	The Islamic Insurance Company PLC	levant	Jordan
Jan-2020	Al Baraka Bank Tunisia	north africa	Tunisia
Dec-2019	Al Baraka Bank Sudan	north africa	Sudan
Dec-2019	International Islamic Trade Finance Corporation	gcc	Kingdom of Saudi Arabia
Dec-2019	Dubai Islamic Bank	gcc	UAE
Dec-2019	Jordan Islamic Bank (SQR)	levant	Jordan
Dec-2019	ABC Islamic Bank	gcc	Bahrain
Dec-2019	Al Baraka Bank Syria	levant	Syria
Oct-2019	Al Baraka Islamic Bank B.S.C.(c)	gcc	Bahrain
Oct-2019	Al Baraka Algeria	north africa	Algeria
Sep-2019	Al Baraka Turk Participation Bank	levant	Türkiye
Sep-2019	Jordan Islamic Bank - Credit Rating	levant	Jordan
Jul-2019	Al Baraka Group	gcc	Bahrain
Jul-2019	Republic of Kazakhstan	cis	Kazakhstan
Apr-2019	Al Baraka Insurance Company	north africa	Sudan
Mar-2019	Omdurman National Bank	north africa	Sudan
Feb-2019	Kuveyt Turk Participation Bank	levant	Türkiye
Feb-2019	Bank Al Jazira	gcc	Kingdom of Saudi Arabia
Feb-2019	The Islamic Insurance Company PLC	levant	Jordan
Feb-2019	Faisal Islamic Bank	north africa	Sudan
Feb-2019	K-Electric PKR 22bn	south asia	Pakistan
Jan-2019	AlBaraka Bank Egypt	north africa	Egypt
Jan-2019	Malaysia	south asia	Malaysia
Dec-2018	International Islamic Trade Finance Corporation	gcc	Kingdom of Saudi Arabia
Nov-2018	Bank of Khartoum	north africa	Sudan
Nov-2018	Al Baraka Islamic Bank B.S.C.(c)	gcc	Bahrain
Nov-2018	Al Baraka Turk Participation Bank	levant	Türkiye
Nov-2018	Al Baraka Bank Tunisia	north africa	Tunisia
Nov-2018	Al Baraka Bank Syria	levant	Syria
Nov-2018	Al Baraka Algeria	north africa	Algeria
Nov-2018	Republic of Türkiye	levant	Türkiye
Oct-2018	Al Baraka Group	gcc	Bahrain
Oct-2018	Jordan Islamic Bank - Credit Rating	levant	Jordan
Oct-2018	United Capital Bank	north africa	Sudan
Oct-2018	Jordan Islamic Bank (SQR)	levant	Jordan
Oct-2018	Al Baraka Bank Sudan	north africa	Sudan
Oct-2018	Dubai Islamic Bank	gcc	UAE
Jan-2018	Jordan Islamic Bank (SQR)	levant	Jordan
Jan-2018	Malaysia	south asia	Malaysia
Dec-2017	Al Baraka Bank Syria	levant	Syria
Dec-2017	The Islamic Insurance Company PLC	levant	Jordan
Nov-2017	AlBaraka Bank Egypt	north africa	Egypt
Nov-2017	Jordan Islamic Bank - Credit Rating	levant	Jordan
Nov-2017	Al Baraka Insurance Company	north africa	Sudan
Nov-2017	Al Baraka Islamic Bank B.S.C.(c)	gcc	Bahrain
Oct-2017	Al Baraka Group	gcc	Bahrain
Sep-2017	ABC Islamic Bank	gcc	Bahrain
Aug-2017	Al Baraka Turk Participation Bank	levant	Türkiye
Jul-2017	Kuveyt Turk Participation Bank	levant	Türkiye
Jul-2017	Bank of Khartoum	north africa	Sudan
Apr-2017	Republic of Türkiye	levant	Türkiye
Mar-2017	K-Electric PKR 22bn	south asia	Pakistan
Mar-2017	Al Baraka Bank Sudan	north africa	Sudan
Feb-2017	United Capital Bank	north africa	Sudan
Jan-2017	Al Baraka Islamic Bank B.S.C.(c)	gcc	Bahrain
Dec-2016	Jordan Islamic Bank (SQR)	levant	Jordan
Dec-2016	ABC Islamic Bank	gcc	Bahrain
Nov-2016	The Islamic Insurance Company PLC	levant	Jordan
Nov-2016	Al Baraka Bank Tunisia	north africa	Tunisia
Nov-2016	Al Baraka Group	gcc	Bahrain
Nov-2016	Jordan Islamic Bank - Credit Rating	levant	Jordan
Nov-2016	Bank Al Jazira	gcc	Kingdom of Saudi Arabia
Oct-2016	Al Baraka Bank Syria	levant	Syria
Sep-2016	AlBaraka Bank Egypt	north africa	Egypt
Aug-2016	Dubai Islamic Bank	gcc	UAE
Aug-2016	Al Baraka Turk Participation Bank	levant	Türkiye
Aug-2016	Kuveyt Turk Participation Bank	levant	Türkiye
Jul-2016	Al Baraka Insurance Company	north africa	Sudan
May-2016	K-Electric PKR 22bn	south asia	Pakistan
Mar-2016	Kingdom of Bahrain	gcc	Bahrain
Mar-2016	United Capital Bank	north africa	Sudan
Jan-2016	Jordan Islamic Bank (SQR)	levant	Jordan
Dec-2015	Al Baraka Bank Sudan	north africa	Sudan
Dec-2015	Bank Al Jazira	gcc	Kingdom of Saudi Arabia
Dec-2015	Kuveyt Turk Participation Bank	levant	Türkiye
Sep-2015	Al Baraka Group	gcc	Bahrain
Jun-2015	AlBaraka Bank Egypt	north africa	Egypt
Apr-2015	Dubai Islamic Bank	gcc	UAE
Mar-2015	Republic of Türkiye	levant	Türkiye
Mar-2015	Bank of Khartoum	north africa	Sudan
Mar-2015	K-Electric PKR 22bn	south asia	Pakistan
Feb-2015	Al Baraka Turk Participation Bank	levant	Türkiye
Feb-2015	Jordan Islamic Bank (SQR)	levant	Jordan
Jan-2015	The Islamic Insurance Company PLC	levant	Jordan
Nov-2014	Bank Al Jazira	gcc	Kingdom of Saudi Arabia
Oct-2014	Kuveyt Turk Participation Bank	levant	Türkiye
Oct-2014	Al Baraka Group	gcc	Bahrain
Apr-2014	Bank of Khartoum	north africa	Sudan
Apr-2014	The Islamic Insurance Company PLC	levant	Jordan
Dec-2013	Jordan Islamic Bank (SQR)	levant	Jordan
Dec-2013	Jordan Islamic Bank - Credit Rating	levant	Jordan
Nov-2013	Republic of Türkiye	levant	Türkiye
Oct-2013	Kuveyt Turk Participation Bank	levant	Türkiye
Jun-2013	Bank Al Jazira	gcc	Kingdom of Saudi Arabia
Feb-2013	Bank of Khartoum	north africa	Sudan
Dec-2012	Republic of Türkiye	levant	Türkiye
Dec-2012	Jordan Islamic Bank - Credit Rating	levant	Jordan
Feb-2012	Kuveyt Turk Participation Bank	levant	Türkiye
Jan-2012	Republic of Türkiye	levant	Türkiye
Oct-2008	Republic of Türkiye	levant	Türkiye
Oct-2008	Kuveyt Turk Participation Bank	levant	Türkiye

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