Friday, Jun 01, 2007
The following is a press release from Fitch Ratings:
Fitch Ratings-Mumbai/Singapore-01 June 2007: Fitch Ratings has today affirmed Islami Bank Bangladesh Ltd (IBB)'s Individual Rating of 'D' and Support Rating of '5', and simultaneously withdrawn them due to limited investor interest. Fitch will no longer provide ratings or analytical coverage of Islami Bank Bangladesh.
IBB was established in 1983 by a group of local businessmen in association with some Middle East based Islamic Institutional Investors, including the Islamic Development Bank, to provide Shariah-compliant banking products in Bangladesh. It operates through 176 branches and is listed on major stock exchanges in Bangladesh.
Contacts: Arshad Khan, Mumbai, +91 22 4000 1733/arshad.khan@fitchratings.com; Ambreesh Srivastava, Singapore, +65 6336 5704/ambreesh.Srivastava@fitchratings.com.
Media Relations: Shivani Sundralingam, Singapore, Tel: + 65 6336 0095.
Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, 'www.fitchratings.com'. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site.
(END) Dow Jones Newswires
01-06-07 0254GMT
