Jeddah (IINA) : Secretary General of the Organization of Islamic Cooperation (OIC) Iyad Ameen Madani congratulated President of the Islamic Development Bank (IDB) Dr. Ahmad Mohamed Ali on the IDB’s obtaining of “AAA” rating from the international credit rating agency Moody’s, which is the highest long-term credit rating and Prime-1, the highest short-term rating, with a stable outlook.

“The high ranking achieved by the IDB Group in Moody’s Agency rating reflects the high confidence which the Bank enjoys.

The ranking reflects outstanding success achieved by the Bank in performing its duties of contributing to the achievement of sustainable development in the member states, expanding the prospects and domains of Islamic economy, and pursuing highly effective financial policies,” The OIC chief stated in a letter he sent to the IDB president on this occasion.

Madani complimented Dr. Ali on the IDB’s successes and accomplishments under his wise leadership and with the support he received from the member states and the board of governors, and due to the strong capital structure and continued good returns from the Group’s development assets portfolio.

It is worth mentioning that the IDB Group has obtained this excellent credit rating (AAA) from Moody’s for the 11th consecutive year.