Emerging Credit Rating Limited (ECRL) has affirmed AID (Pronounced as “Single A Islamic Debt”) long term credit rating to First Security Islami Bank Limited’s (FSIBL) Third Mudaraba Subordinated Bond (hereinafter referred to as “The Subordinated Bond” or “The Issue”) issuance of BDT 7,000.00 million in nominal value. The outlook on the rating is Stable. The rating is consistent with ECRL’s methodology for this type of bank and bond rating. ECRL considered financial performance, capital base, asset quality, management experience and prospect of the industry while assigning the standalone rating and the possibility of likely default of the bond while assigning the bond rating.