Jeddah : The Islamic Development Bank’s “AAA” credit rating was recently reaffirmed with a “Stable Outlook” by Moody’s. Concurrently, the trust certificates issued by IDB Trust Services Ltd have also been affirmed at ‘AAA’.
The ratings and the stable outlook reflect the intrinsic strength of IDB; in particular its strong capital base, solid liquidity levels, strong shareholder support, prudent financial and risk management and generally low solvency risks compared with other regional multilateral development banks (MDBs). This is the 11th consecutive year that IDB is assigned “AAA” ratings by Moody’s.
The IDB remains amongst the most highly-rated MDBs and the highest in the Muslim World. The ‘AAA’ rating enhances the Bank’s capacity to mobilize external resources to fulfill its development mandate and play a leading role in development of the Islamic Finance Industry.
IDB is a multilateral development bank established in 1973 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. Bandar Hajjar, President of the IDB Group, congratulated all member countries, IDB Board members and staff for this important achievement. He renewed IDB’s commitment to exert maximum efforts to realize the objectives of the 2020 Vision.