IFSB - Capital Adequacy Standards

GN-1: Guidance Note In Connection with the Capital Adequacy Standard: Recognition of Ratings by External Credit Assessment Institutions (ECAIs) on Shari`ah-Compliant Financial Instruments
March 2008

"The objective of this Guidance Note is to outline criteria which the Islamic Financial Services Board (IFSB) recommends national supervisors should take into account when determining which external credit assessment institutions may have their ratings used to calculate capital adequacy ratios under the IFSB’s December 2005 Capital Adequacy Standard. The IFSB also hopes that the Guidance Note will promote a wider debate on key points of rating methodology for Shari`ahcompliant instruments."

IFSB - Capital Adequacy Standards