
VIS upgrades entity ratings of Faysal Bank Ltd
Medium to long-term rating of 'AA+' indicates high credit quality; protection factors are strong. Risk is modest but may vary slightly from time to time because of economic conditions. Short-term rating of 'A1+'indicates the strongest likelihood of timely repayment of short-term obligations with outstanding liquidity factors. The outlook on the assigned ratings is 'Stable.' Previous rating action was announced on June 28, 2024.
The assigned ratings to FABL reflect a sound financial profile, underpinned by FABL's strong trajectory in Islamic banking after successful transformation into a full-fledged Islamic bank. Moreover, digital transformation, asset quality, and prudent financial management have supported the upgrade.
The Bank, along with its subsidiaries, is recognized as a leader in Shari'ah compliance, holding a Shari'ah Compliance and Fiduciary Rating of 'SCFR(PK) 1' on the national scale from the Islamic International Rating Agency(IIRA)—indicating no material deviations from the national regulatory framework for Shari'ah-compliant finance.
Copyright Business Recorder, 2025
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Express Tribune
2 days ago
- Express Tribune
Pak-Kyrgyz trade target set at $100m
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Business Recorder
4 days ago
- Business Recorder
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Business Recorder
5 days ago
- Business Recorder
Pakistan reaffirms commitment to GSP+
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