Serving the Islamic Ummah

Technical Partners

Two of IIRA’s rating agency shareholders have executed a Technical Partnership Agreement with IIRA. According to this agreement, the rating agencies have committed to provide research, methodology development support and analytical assistance, as and when required. IIRA’s technical partners have augmented IIRA’s technical capacity over the years, and remain committed to the entrenchment of ratings in OIC countries.

VIS Credit Rating Co. Ltd., Pakistan

VIS is approved by Securities & Exchange Commission of Pakistan and is recognized as an ECAI by State Bank of Pakistan for providing independent rating services in Pakistan. VIS has strong presence in Pakistan's financial market and has ratings outstanding in all major areas including banking, takaful, asset management and corporate debts including major sukuk issuances.

VIS provides management services to IIRA in addition to assistance under the technical partnership agreement.

Malaysian Rating Agency Berhad (MARC), Malaysia

Is a domestic credit rating agency in Malaysia. MARC has several ratings outstanding in the areas of corporate debt, project finance debts and structured instruments. 60% of the ratings (MYR134 billion) an-nounced by MARC over the first 14 years were sukuk programmes. These also included domestic ratings for Ringgit-denominated debt issued by foreign entities on the national rating scale.