(MENAFN- Trend News Agency)
BAKU, Azerbaijan, July 19. Moody's has
reaffirmed the Islamic Development Bank's (IsDB) credit rating at
“AAA” with a“Stable Outlook”, Trend reports.
The short-term issuer rating remains at Prime-1, the highest
level.
The affirmation reflects Moody's expectation that IsDB will
maintain a robust capital position and strong asset performance,
supported by its solid liquidity, low funding costs, and its
prominent role as a consistent issuer of highly-rated
benchmark-size sukuk in the global capital markets.
IsDB's strong credit profile is further bolstered by member
country support, evidenced by a series of general capital increases
(GCIs) and a recent special capital increase (SCI). Consequently,
IsDB's leverage ratio is anticipated to stay well below the median
for Aaa-rated multilateral development banks (MDBs).
Moody's has rated IsDB 'AAA' since 2006.
IsDB is a multilateral development bank dedicated to enhancing
the quality of life for those it serves by advancing social and
economic development in member countries and Muslim communities
globally, achieving significant impact.
The Bank's activities are guided by five key pillars:
Fostering Partnerships: Facilitating collaboration between
governments, the private sector, and civil society through
Public-Private Partnerships (PPPs).
Enhancing Economies: Contributing to the economies and societies
of developing countries by increasing skills and knowledge
sharing.
Advancing Innovation: Addressing major development challenges
with solutions driven by science, technology, and innovation,
supported by enhanced connectivity, funding, and alignment with the
UN's Sustainable Development Goals.
Promoting Sustainable Finance: Leading in Islamic finance by
advocating for Shariah-compliant, long-term sustainable, and
ethical financing structures.
Encouraging Collaboration: Uniting member nations in a
non-political environment to focus on the collective betterment of
humanity.
Follow the author on X: @Lyaman_Zeyn
MENAFN19072024000187011040ID1108458894
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.