QIIB high ratings by Moody’s, Fitch reflect Qatar’s economic strength, says Al-Shaibei

QIIB high ratings by Moody’s, Fitch reflect Qatar’s economic strength, says Al-Shaibei:

"QIIB announced that Moody’s and Fitch Ratings have affirmed its ratings at ‘A2’ and ‘A’ respectively, which reflects the bank’s strong financial position and its ability to confront challenges and market factors.
On QIIB’s ratings at ‘A2’, Moody’s said that it is based on several considerations, one of which is that the bank maintains high levels of liquidity and a strong capital base. Additionally, QIIB is one of the oldest Islamic banks in Qatar and has a strong client base, especially in the retail sector.
Fitch explained that “The affirmation of the bank’s Viability Rating (VR) and the removal of the Rating Watch Negative (RWN) reflect Fitch’s view that immediate risks from the diplomatic crisis to the bank’s overall standalone credit profile has reduced. "



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