Islamic International Ratings Agency

The Islamic International Ratings Agency, known as IIRA, is a financial rating organization that assesses the capital markets and banking sectors of predominantly Muslim countries around the world. It was founded in 2002 in Bahrain, with operations beginning in 2005, and it rates corporate governance and issues credit ratings according to Islamic finance principles, including compliance with Sharia law, for corporations and banks across member states of the Organisation of Islamic Cooperation. The agency is structured with a board of directors, an independent rating committee and a Sharia supervisory board, and the Islamic Development Bank holds a stake of about 42 percent through its affiliates and nominates its chairman. It is recognized by regulators including the Central Bank of Bahrain, the Central Bank of Jordan and Turkey's Banking Regulation and Supervision Agency. This description is adapted from Wikipedia contributors under CC BY-SA 4.0; changes were made. https://creativecommons.org/licenses/by-sa/4.0/