Events - Ratings Issue For IFIs Terminological And Defining
Source: Asia Insurance Review | Apr 2006
Rating methodology
for conventional banks is well-established, but it currently remains a work-in-progress
for Islamic financial institutions (IFIs). Islamic finance is an alternative
system with its own unique structures and, therefore, there are key differences
to its conventional counterpart. Recognising that specific adjustments, refinements,
and criteria are required to more adequately account for the specificities of
Islamic issuers and issues, the IFSB organised the Workshop on Ratings Assessment
for IFIs, which identified terms and set tones for the industry. Our Takaful
Journalist Mr Hafiz Mohamed reports.
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