Albaraka Bank assigned A-, A1 ratings

The Pakistan Credit Rating Agency (Pacra) has assigned a long-term rating of 'A-' (single A minus), and a short-term rating of 'A1' (A One) to Albaraka Islamic Bank B.S.C., E.C. (Pakistan branches).
According to Pacra, these ratings represent high credit quality and a low expectation of credit risk due to a strong capacity for timely payment of financial commitments.
The ratings are applicable to the senior unsecured creditors (depositors) of the bank.
The ratings reflect the largely maintained asset quality and risk absorption capacity of the bank. It also take into account the bank's moderate growth prospects owing to increasing competition and its limited outreach in terms of branches.