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Fitch rates QIB's Trust Certificate issuance programme 'A(EXP)'

Published: 27/09/2012 04:26:27 PM GMT
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Doha, Qatar - September 27th, 2012Fitch Ratings has assigned Qatar Islamic Bank 's ( QIB ) USD1.5bn trust certificate issuance programme an exp (more)

Doha, Qatar - September 27th, 2012Fitch Ratings has assigned Qatar Islamic Bank 's ( QIB ) USD1.5bn trust certificate issuance programme an expected rating of 'A(EXP)'. The issuing entity under the programme is QIB Sukuk Ltd (QIBSL). The programme rating is based on the Long-term Issuer Default Rating ('A'/Stable) of Qatar Islamic Bank .

QIB is the third-largest bank in Qatar by assets and the leading Islamic bank, accounting 36% of total Islamic banking assets at end-H112. The bank has a strong franchise in Qatar. The Qatar Investment Authority is QIB 's largest shareholder (16.7%); the balance is listed on the Qatar exchange.

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