IDB maintains top credit rating from Standard & Poor's for 7th Consecutive Year

Monday, 05 January 2009

The Standard & Poor’s credit rating agency, for the 7th consecutive year, rated the future outlook of the Islamic Development Bank Group as “stable” in its annual report on international finance institutions issued during December 2008. The Standard & Poor’s credit rating agency, for the 7th consecutive year, rated the future outlook of the Islamic Development Bank Group as “stable” in its annual report on international finance institutions issued during December 2008.

The agency awarded IDB Group with its highest credit rating of (AAA) for the long term and (A-1+) for the short term, reporting that IDB’s “capital position is extremely strong and its liquidity ample.” According to the report released by Standard & Poor’s, the ratings on IDB were based on IDB’s strong capitalization, strong liquidity, a development-related asset portfolio that has performed well in relation to its large pool of borrowers, and an expected continued preferred creditor treatment.

Currently, IDB has successfully received the highest credit ratings from all three leading rating agencies in the world – Moody’s, Fitch, and now, for its seventh consecutive year, Standard & Poor’s. The strong ratings allow IDB to mobilize resources from international financial markets at low costs. President of IDB Group Dr. Ahmad Mohamed Ali reiterated that the high ratings of IDB for its seventh consecutive year is due mainly to the robust financial position of the Bank as well as the strong support of its member countries. The European Parliament and the Basel Committee on Banking Supervision have also confirmed IDB’s place in the list of zero-risk development institutions.

The top rating by Standard & Poor’s has had an enormous effect in consolidating confidence in IDB and its role in promoting the development process in member countries. The Standard & Poor’s report stated that IDB’s net income jumped by 32% during 1428H to SR 164 million from SR 123 million one year earlier, “mainly due to increased income from operation assets.”

BNI Syariah: To Launch Credit Card

Kamis, 15 Januari 2009

Jakarta (15/1) The shariah division head of BNI Ismi Kushartanto stated that BNI syariah will launch its new product, shariah credit card, there is other shariah credit card it called Dirham Card from Bank Danamon syariah.

“we are trying to improve our product and praise to Allah that in 2009 we will be able to launch our shariah credit card,” said Ismi Kushartato to pkesinteraktif.com. Aside from the sophisticated Technology, the credit card of BNI syariah comes with health and life insurance for the card holder. In line with BNI syariah business expansion, in 2009, Ismi Kushartanto set target to attract 10.000 BNI syariah credit card holders, which focus on middle and high class segments.

“There are three types of BNI syariah credit card, platinum, gold and regular, depend on the needs of each customer,” said Ismi. It is expected that with BNI syariah credit card, the community could fulfill their basic needs by using the benefit of shariah credit card.

(Agus Y/ Nibra www.pkesinteraktif.com)