The Islamic International Rating Agency (IIRA) announced that it has assigned Libya’s Nuran Bank a national scale credit rating of (A/A1+) with a stable outlook, as well as an international scale rating of (B+/B), also with a stable outlook.

The IIRA said this rating reflects the Bank’s strong financial position, robust capital base and liquidity, and efficient management, alongside the continuous development of its governance, risk management, and internal control frameworks. It also underscores confidence in the Bank’s ability to meet its obligations and achieve sustainable growth in accordance with best banking practices.

The IIRA highlighted several positive factors supporting the rating, notably the strength of the ownership structure, high liquidity levels, improved profitability indicators, and strong capitalization, as well as continuous advancements in digital banking services and a growing customer base.

The report also highlighted Nuran Bank’s robust framework for corporate governance, risk management, and internal control. This framework is supported by specialized board-level committees and independent functions for compliance, audit, and risk management, all of which reinforce the soundness and sustainability of the Bank’s operations.

The IIRA said this achievement reaffirms the Bank’s commitment to strengthening its position within the Libyan banking sector and continuing to provide innovative, secure banking services that meet customer aspirations, while adhering to the highest standards of efficiency, governance, and sustainability.

It said this rating serves as independent validation of the Bank’s strong financial and operational performance, and acts as an impetus to continue executing its strategy aimed at achieving sustainable growth and enhancing value for customers, shareholders, and all stakeholders.

The details of the rating can be viewed on the international rating agency’s official website at the following link: http://iirating.com/