IIRA and Union of Arab Banks formalize agreement to organize joint training programs

Under this agreement, IIRA and UAB will organize joint training programs on Financial Institutions Analysis in different areas and jurisdictions.

Based in Manama Bahrain, IIRA is a regional rating agency which started its operations in 2005. IIRA is completely independent and transparent, and follows a consistent methodical and rigorous analytical process consistent with international best practice. IIRA is recognized by Central Bank of Bahrain as External Credit Assessment Institution and is also in the list of approved rating agencies by Islamic Development Bank, Jeddah.

Since its inception, IIRA has been expanding its client base and organizational capability to carry out rating assignments and currently has clients in many countries including Bahrain, UAE, Kuwait, Turkey, Jordan, Pakistan and Indonesia.

The Union of Arab Banks (UAB), headquartered in Beirut Lebanon, was formed on March 13, 1974. It comprises today more than (300) Arab financial and banking institutions representing the major and biggest Arab banks. This makes the Union the largest banking and financial consortium in the region and the true representative of the Arab banking community.

The ultimate objectives of UAB are to consolidate relations and foster cooperation between its members, to coordinate their activities, and to emphasize their Arab identity to secure common interests.

The management of IIRA and UAB believe that the efforts of both the parties under this cooperative agreement will bring more awareness about analysis and go a long way in preparing trained and professional bankers and this is a cause which is dear to both institutions.