Islamic International Rating Agency (Iira)

the islamic international rating agency (iira) has been set up to provide independent assessments to islamic financial institutions and capital market instruments globally. iira’s special focus is on development of capital markets in islamic countries with a rating spectrum that encompasses the full array of financial transactions and institutions. iira is sponsored by multilateral development institutions, leading banks and non-bank financial institutions as well as rating agencies. the islamic corporation for development of the private sector and the islamic development bank are its most prominent shareholders with a combined stake of about 27%. iira’s shareholders operate from eleven countries, which constitute the agency’s primary markets.iira has received formal recognition from central bank of bahrain as an external credit assessment institution (ecai). iira is also on the list of approved rating agencies of islamic development bank. iira believes that the strength of islamic fin