Fitch confirms IDB maintains AAA credit ranking

JEDDAH – The International Fitch Rating Agency confirmed that for the 10th consecutive year Islamic Development Bank (IDB) has maintained its highest credit ranking of “AAA”, Saudi Press Agency said Thursday. Fitch said IDB’s capital is considered the strongest among multilateral development banks. The AAA rating will boost the financial capability of the bank in meeting its development commitments and carrying out a pioneering role in developing the Islamic financial industry. Meanwhile, the President of IDB Dr. Muhammad Ahmed Ali congratulated the 57 member countries, the IDB Board of Governors, CEOs Council and all of the bank’s personnel for this important accomplishment. He reaffirmed the commitment to exert the utmost efforts to achieve the bank’s vision until 2020 and the ambitions of the member countries.