DOHA: Islamic International Rating Agency (IIRA) has assigned a national scale rating of A+/A-1 (QR) (A plus/A-one) to Qatar International Islamic Bank (International Islami c).
On the international scale, IIRA has assigned a foreign currency and local currency rating of A-/A-1 (A minus/ A-one). These ratings have been assigned on the basis of International Islamic’s strong credit fundamentals.
Further, International Islamic’s fiduciary score has been assessed in the range of ‘70-75’ (out of 100), reflecting strong fiduciary standards wherein rights of fund providers are adequately defined and protected.
The fiduciary score is an aggregation of scores assigned to its three sub-sections, namely Corporate Governance, Shariah Governance, and Asset Manager Quality.
The fiduciary score captures the role of the management of the institution as Mudarib, the entity’s governance practices and compliance with Shariah principles adopted by the bank.
The Peninsula
