IDB rated "Aaa" by Moody's

Moody's Rating Agency has announced that it is rating the Islamic Development Bank (IDB) the credit rating "Aaa" for the term and "Prime-1" near-term, with the outlook "stable." for the sixth consecutive year. The agency said that the rating reflects the strong support enjoyed by the Bank from its member states and the high level of liquidity in addition to the excellent status of creditor the bank enjoys. This rating also reflects the low level of indebtedness of the IDB because of the nature of the Bank's operations backed by assets according to Sharia (Islamic Law), which is a unique element enjoyed by IDB among other banks of multilateral funding, Moody's added in a report.