The Islamic Development Bank (IsDB)’s “AAA/MARC-1” credit rating was affirmed by Malaysian Rating Corporation Berhad (MARC) on 6 September 2021 with a stable outlook.
The Sukuk Wakalah program of up to MYR 400 million issued by Tadamun Services Berhad, a trust established by IsDB has also been affirmed at ‘AAAis’.
The ratings are driven mainly by the Bank’s preferred creditor status, its sound liquidity position and profile, low leverage position, and healthy capitalization level, which offers a strong buffer to absorb increases in overdue instalments.
The IsDB 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 the development of the Islamic Finance Industry.
IsDB 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.
H.E. Dr. Muhammad Al Jasser, President of Islamic Development Bank and Chairman of the IsDB Group, has congratulated all member countries, IsDB Board Members, and Staff for this important achievement. He renewed IsDB’s commitment to exercise maximum efforts to realize the objectives of the Bank’s vision and to continue playing an important role in meeting the development needs of Member Countries as well as for their resilient and green recovery from the current pandemic.
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