IIRA's motivation stems from the fact that the absence of ambiguity or 'Gharar' is a cornerstone of Islamic Finance and ratings achieve just that by bringing about improved transparency in markets. In addition to the value of ratings in making financial systems more efficient, IIRA's approach to ratings brings a new perspective to all stakeholders in Islamic institutions and instruments.
With an appreciation of Islamic Finance deeply entrenched in our people, IIRA's analysts are rigorously trained to think afresh; rather than view Islamic transactions as an adaptation of conventional finance. IIRA's team has a long-standing association with Islamic Finance having worked exclusively with Islamic financial institutions in several jurisdictions. We have a multicultural team that draws from its experience in a number of Islamic markets, bringing with it a deep understanding of local markets, in addition to international experience.
IIRA's rating framework and our analysis stands apart from other rating methodologies being applied to Islamic institutions. We believe that fairness to all stakeholders is a central pillar of Islamic finance and our methodologies are specifically designed to present a complete picture of institutions and transactions.
Our processes have been laid out to ensure independence, quality and timeliness of rating actions. Extensive interaction ensures an understanding of the client's business, while best serving the interest of investors. IIRA aims to establish a high standard of integrity and responsibility to investors and becoming a benchmark of quality in Islamic market.