We view Sharjah Islamic Bank (SIB) as an important player in the United Arab Emirates' (UAE) Islamic banking market, with a strong relationship with the government of Sharjah. We now consider SIB to have high systemic importance in the UAE and therefore see a high likelihood of the bank receiving government support if needed. We are raising our long-term rating on SIB to 'A-' from 'BBB+' and affirming the 'A-2' short-term rating. The stable outlook reflects our view that the bank's business and financial profiles will remain broadly unchanged over the next 12-24 months. On May 27, 2019, S&P Global Ratings raised its long-term issuer credit rating on UAE-based Sharjah Islamic Bank (SIB) to 'A-' from 'BBB+'. The outlook is
