Corporate Profile

The Islamic International Rating Agency (IIRA) is the sole rating agency established to provide capital markets and the banking sector in predominantly Islamic countries with a rating spectrum that encompasses the full array of capital instruments and specialty Islamic financial products, and to enhance the level of analytical expertise in those markets.

IIRA’s augmented rating system recognizes and incorporates the unique features of Islamic finance in a way that broadens the quality perspective, which is a rating agency’s ultimate goal. This will facilitate to develop and deepen the capital markets in countries which IIRA wishes to serve.

IIRA is also soliciting recognition of its ratings by regulators and has received formal recognition from Central Bank of Bahrain as an External Credit Assessment Institution (ECAI). IIRA is also on the list of approved rating agencies of Islamic Development Bank.

In view of the nature of its activities, the presence of a rating agency should increase transparency in the market through its promotion of disclosure and knowledge of standards in other markets. It will enhance the investment decision process by educating investors in the use of ratings criteria and methodology utilized elsewhere.

The Islamic International Rating Agency B.S.C. (IIRA) started operations in July 2005 to facilitate development of the regional and national financial markets by delineating relative investment or credit risk, providing an assessment of the risk profile of entities and instruments. This should be an integral part of the decision process employed by institutional investors.

IIRA is sponsored by multilateral development institutions, leading banks, other financial institutions and rating agencies. Its shareholders operate from eleven countries which constitute the agency’s primary marketing focus.

IIRA is structured in a way to preserve its independence. It has a Board of Directors and a completely independent Rating Committee.