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Azerbaijan sets up first Islamic insurance company

03/12/2011

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Islamic Corporation for Development of the Private Sector (ICD) is developing its operations in Azerbaijan.

At the IV Baku International Banking Conference Hisham Nazih Al-Nasser, ICD director for assets management and advisory work, has claimed that currently the ICD was working on a project of first Islamic insurance company Kaufad in Azerbaijan.
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Standard & Poor's assigns its highest rating to IDB

03/10/2011

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In a report issued today 29 September 2011, Standard & Poor's affirmed for the 10th consecutive year its 'AAA' long-term and 'A-1+' short-term credit ratings of the Islamic Development Bank (IDB) with a Stable Outlook.

Standard & Poor's stated that the IDB's ratings are underpinned by strong shareholders' support, very high level of capital and liquidity and a good asset portfolio with preferred-creditor treatment and historically very low losses.
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