Islamic International Rating Agency

the islamic international rating agency (iira) has been set up to provide independent assessments to issuers and issues that conform to principles of islamic finance. iira's special focus is on development of local capital markets, primarily in the region of the organization of islamic countries (oic) and to provide impetus through its ratings to ethical finance, across the globe. iira was founded as an infrastructure institution for the support of islamic finance as conceived by the islamic development bank (idb). this puts iira in league with system supporting entities like aaoifi and ifsb. the idb remains a prominent shareholder, and maintains oversight through its nominee, as chairman to the board of directors. headquartered in the kingdom of bahrain, iira commenced operations in 2005 and launched its series of conceptually distinctive methodologies, beginning 2011. iira believes that the strength of islamic finance lies in its commitment to fairness. this renders the manner in w