Jeddah, 27.11.09: Islamic Development Bank “IDB” takes pleasure in announcing that recently, Fitch Ratings, one of the most important rating agencies in the world, has reaffirmed IDB’s "AAA" long term and F1+ short term foreign currency issuer rating with a “stable” outlook. Fitch Ratings stated that the IDB's rating reflects the strong support it receives from its member countries, its established track record in terms of asset quality and its high level of capitalisation.

IDB is an international financial institution established in 1973 with the purpose of fostering economic development and social progress of Member Countries and Muslim communities in non-member countries in accordance with the principles of Shari’ah (Islamic Law).

IDB is one of the few multilateral development financial institutions rated by the three leading international rating agencies - Standard & Poor's, Fitch and Moody’s with the highest possible rating (AAA). Moreover, IDB has been recognized as eligible for ‘Zero Risk-Weight’ by Basel Committee on Banking Supervision in 2004 and the European Union in May 2007.

Dr. Ahmed Mohamed Ali, President of the IDB Group, praised the strong and generous support of the Member Countries and congratulated the staff of the IsDB Group for this achievement. He also considered it as an opportunity for IsDB to reconfirm its pledge and endeavour to further the achievements of this noble institution through adherence to the highest levels of professionalism, due diligence and prudent practices while conducting tasks with integrity and sincerity. He highlighted that during the past year, IsDB continued its efforts to reform the Bank with the view to strengthen performance through a more appropriate organization structure, more competent managerial capabilities, and stronger governance. This will help achieve greater developmental impact in consonance with the ‘Year 2020 Vision’ with the ultimate goal of making IsDB a customer and quality-focused organisation”.

For further information, please contact us on +966 2 636-1400 or by email on archives@isdb.org; or visit our website www.isdb.org.