IdealRatings

IdealRatings is a global leader in providing data solutions that cater to Shariah compliant investing, Environmental, Social, and Governance (ESG) investing, and ethical finance.

The organisation plays a crucial role in the Islamic finance industry by offering ratings and screening services. Here’s a breakdown of the roles and responsibilities that IdealRatings typically encompasses:

• Shariah Certification: Ensure that companies, financial instruments, and funds are Shariah-compliant by screening their activities and revenue streams. They follow guidelines set by Shariah boards to determine permissibility.
• Ongoing Monitoring: Continuously review and monitor Shariah compliance of companies and financial instruments to ensure that any changes in their business models, revenue streams, or activities align with Islamic principles.
• Shariah Boards and Scholars: Collaborate with recognised Shariah scholars and boards to ensure the credibility and acceptance of their ratings and compliance processes.
• Industry Standards: Work closely with regulatory bodies and standard-setting organisations like AAOIFI (Accounting and Auditing Organisation for Islamic Financial Institutions) to maintain industry best practices.