Jeddah, Kingdom of Saudi Arabia, 4 November 2021 – Moody's Investors Service ("Moody's") has affirmed the Aaa issuer rating of the Islamic Development Bank (IsDB) with a stable outlook.
The Aaa rating is supported by the Bank’s robust capital base, sound liquidity and funding, and strong shareholders’ support.
According to Moody’s, despite exposure to a high-risk operating environment and COVID-19 pandemic, IsDB's operational assets continue to perform well. This is reflected in the low levels of non-performing assets. Similarly, IsDB has a strong stock of liquid assets and has demonstrated favorable market access, supported by its position as a leading Islamic finance institution and one of the sole Aaa-rated issuers of Shariah compliant securities.
Moody’s also acknowledged the high strength of members’ support citing shareholders’ long history of participation in general capital increases (GCI), the last of which is the 6th GCI which comprised entirely of paid in capital.
On the occasion, H.E. Dr. Muhammad Al Jasser, President of Islamic Development Bank and Chairman of the IsDB Group, 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.