Manama, July 28 -- Islamic International Rating Agency (IIRA) has reaffirmed the international scale credit ratings assigned to Al Baraka Banking Group (ABG) at BBB+ / A3 (long term / short term) and maintained the Outlook on its assigned ratings at "Stable".

IIRA, in its report, also reaffirmed the national scale ratings of ABG at A+ (bh) / A2 (bh) with a Stable outlook. The Group's fiduciary score has also been raised to the higher level of "81-85", the highest among the Islamic Financial Institutions in the region. This reflects the strong fiduciary standards in the Group.

The IIRA rating report recognized the substantial contribution in aggregate assets and earnings of the Group's four key subsidiary banks ("Units") based in Turkey,...