Moody's stated that IDB's rating
reflects the presence of strong shareholder support, a high level of
liquidity, the tested preferred creditor status and a low level of debt
partly because of the Islamic (asset-backed) nature of its operations
that is unique among MDB's. Moody's concluded that the bank's risk
profile is likely to remain healthy over the medium term and the
prevailing situation in certain member countries appears unlikely to
impact the bank's creditworthiness.IDB is one of the few
multilateral development financial institutions rated by the three
leading international rating agencies - Standard & Poor's, Fitch and
Moody's with the highest possible rating (Triple-A). Moreover, IDB has
been recognized as eligible for “Zero Risk-Weight” by Basel Committee on
Banking Supervision in 2004 and the European Union in May 2007. IDB
is an international financial institution, which started operations 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 Shariah (Islamic Law). Ahmed
Mohamed Ali, president of the IDB Group, referred to the strong and
generous support that IDB enjoys from its member countries and
congratulated the staff of the IDB Group for this achievement. He also
considered it as an opportunity for IDB to reaffirm its pledge and
endeavor 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
noted that during the past year, IDB continued its reform process with
the view to strengthen performance through completion of the first phase
of the implementation of SAP - the world's leading ERP solutions. This,
along with the enhanced internal capacity and governance structures
will help achieve greater developmental impact in consonance with the
“Year 2020 Vision” with the ultimate goal of making IDB a customer and
quality focused organization.
