IIRA appoints J. M. McMullen, Senior Vice President - Rating

McMullen has joined IIRA to assist with further development of the company. He brings with him over forty years of experience in rating, banking and capital market development consulting activities.

McMullen spent twenty-four years at Moody's Investors Service, retiring in 1992 as Vice President, financial Institutions. During his career, he was involved with ratings for all types of issuers, including corporates, foreign municipal and governmental long and short term issuers as well as financial institutions.

McMullen developed the analytical methodology to rate banks and other financial institutions that is still at the core of Moody's rating process. He headed rating committees that decided on bank ratings in many countries. He also established Moody's Japan KK, and served as its first chief executive officer.

After leaving Moody's, McMullen was instrumental in the establishment of two domestic rating agencies: The Central European Rating Agency (now Fitch Polska S.A.) in Warsaw and Thomson BankWatch Daeil Ratings in Seoul, Korea.

McMullen commented: "it is a privilege to join a dynamic international rating agency combining the best aspects of analysis supporting international financing with the specialist characteristics of Islamic financial practice and institutions."

McMullen graduated cum laude from Pace University in New York and completed the Executive MBA program at the Graduate School of Business, Columbia University.

Jamal Abbas Zaidi, Chief Executive Officer of IIRA commented: "It is IIRA's mission to provide high quality ratings, analysis and research reports for the benefit of investors and issuers of Islamic financial institutions. To this end, we have focused on hiring high caliber professionals to build a strong team. McMullen is a good addition to our team."