Fitch affirms its AAA Rating on Islamic Development Bank

June 29, 2015 12:09 PM

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Dr Ahmed Mohammed Ali IDB Group ChairmanThe Islamic Development Bank AAA credit rating was affirmed with a stable outlook by Fitch. The ratings and the stable outlook reflect the intrinsic strengths of IsDB; in particular its strong capitalisation, high liquidity levels and well-diversified portfolio compared with other regional multilateral development banks (MDBs). Fitch also recognized the Islamic Development Bank (IsDB)’s capitalisation as being among the strongest in the universe of MDBs. The IsDB remains amongst the most highly-rated MDBs and the highest in the Muslim World. The ‘AAA’ rating enhances the Bank’s financial capacity to fulfil its development mandate and play a leading role in the development of the Islamic Finance Industry. IsDB is a Multilateral Development Bank established in 1973G with the purpose of fostering economic development and social progress of its Member Countries and Muslim Communities in non-member countries in accordance with the principles of Islamic Finance. Dr. Ahmed Mohamed Ali, President of the IsDB Group, congratulated all member countries, IsDB Board Members and the staff for this important achievement. He renewed IsDB’s commitment to exert maximum efforts to realize the objectives of the 2020G Vision and aspirations of its constituents. Print PDF

The ratings and the stable outlook reflect the intrinsic strengths of IsDB; in particular its strong capitalisation, high liquidity levels and well-diversified portfolio compared with other regional multilateral development banks (MDBs). Fitch also recognized the Islamic Development Bank (IsDB)’s capitalisation as being among the strongest in the universe of MDBs.

The IsDB remains amongst the most highly-rated MDBs and the highest in the Muslim World. The ‘AAA’ rating enhances the Bank’s financial capacity to fulfil its development mandate and play a leading role in the development of the Islamic Finance Industry.

IsDB is a Multilateral Development Bank established in 1973G with the purpose of fostering economic development and social progress of its Member Countries and Muslim Communities in non-member countries in accordance with the principles of Islamic Finance.

Dr. Ahmed Mohamed Ali, President of the IsDB Group, congratulated all member countries, IsDB Board Members and the staff for this important achievement. He renewed IsDB’s commitment to exert maximum efforts to realize the objectives of the 2020G Vision and aspirations of its constituents.

Source: twentyfoursevennews.com

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