Press Release

VIS Matures Ratings of Basel 3 Compliant Tier-II (Sukuk 1) of Al-Baraka Bank (Pakistan) Limited

Karachi, September 10, 2024: VIS Credit Rating Company Limited (VIS) has matured the rating assigned to Sukuk 1 (Basel 3 Compliant Tier-II debt instrument), amounting Rs. 1.5 billion. The instrument was issued on August 22, 2017 and redeemed on August 21, 2024. The previous rating action was announced on June 30, 2024.

For further information on this ratings announcement, please contact at 021-35311861-64 or email at info@vis.com.pk.


Applicable Rating Criteria: Policy for Suspension and Withdrawals of Ratings
https://docs.vis.com.pk/docs/policy_withdrawal.pdf

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