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Article: MOODY'S ASSIGNS A3/P-2/D+ RATINGS TO MASRAF AL RAYAN
- Article from:
- Info-Prod Research (Middle East)
- Article date:
- August 12, 2009
CopyrightCopyright 2009 Info-Prod Research (Middle East). Provided by ProQuest LLC. (Hide copyright information)
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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, ...