Jeddah, November 17 2011 : Fitch Ratings, one of the leading rating agencies in the world, has reaffirmed the Islamic Development Bank’s "AAA" Long-term Issuer Default Rating and "F1+" Short-term foreign currency issuer rating with a “Stable” outlook. The report of Fitch Ratings highlighted IsDB’s excellent capitalization, strong shareholders’ support and moderate credit risk as being key rating drivers.

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

IsDB is an international financial institution established in 1975 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).

Dr. Ahmed Mohamed Ali, President of the IsDB 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 itself to further strengthen performance through enhanced internal capacity and improved governance structures. This will help achieve greater developmental impact in consonance with the Bank’s 2020 Vision, with the ultimate goal of making IsDB a quality focused organisation to meet the expectations of the Member Countries.