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QATAR: MOODY'S ASSIGNS A3/P-2/D+ RATINGS TO MASRAF AL RAYAN.

Publication: IPR Strategic Business Information Database
Publication Date: 12-AUG-09 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Moody's Investors Service has today assigned A3 long-term and Prime-2 short-term local and foreign currency issuer ratings as well as a D+ bank financial strength rating (BFSR) to Masraf Al Rayan ("MAR"). The rating outlook is stable. This is Moody's first public rating assigned to an Islamic bank in Qatar. With USD4.6 billion of assets at 31 December 2008, MAR is a small financial institution by domestic and regional standards and holds a market share of around 5% in domestic banking assets. However, it is one of Qatar's most successful Islamic banks and commands around 25% of the country's Shari'ah-compliant banking assets. MAR's immediate domestic Islamic banking competitors, International Islamic...

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