IdealRatings has been selected for the ESGFinTech100 list, marking our third inclusion in this annual ranking of the world’s most innovative ESG technology companies for the financial services industry.

This recognition validates the value and consistency of our cutting-edge ESG solutions. IdealRatings remains focused on delivering the data and technology necessary to support global investors in meeting their responsible and sustainable finance objectives.

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IdealRatings has once again been named one of the world’s top 100 most innovative ESG technology companies for financial services by ESGFinTech100. This recognition underscores IdealRatings’ commitment to delivering cutting-edge ESG solutions that empower investors to make informed decisions and drive sustainable finance.

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IdealRatings, Inc. announces its commitment to the voluntary “Code of Conduct for ESG Ratings and Data Products Providers” developed by the International Capital Market Association (ICMA). The code aims to enhance transparency and trust in the ESG data and ratings market, while promoting good governance and robust systems and controls. The

IdealRatings demonstrates its commitment to upholding the utmost standards in ESG data provision by enrolling in ICMA’s Code of Conduct. Through this enrollment, IdealRatings affirms its alignment with The International Regulatory Strategy Group (IRSG) Code of Conduct for ESG Ratings and Data Products Providers, as well as the pertinent recommendations of the International Organization of Securities Commissions (IOSCO) for ESG Ratings and Data Products Providers. The company recognizes the importance of transparency, reliability, and accountability in driving sustainable investment decisions and fostering responsible business practices.

IdealRatings is actively conducting a thorough analysis of the various regulations, established by different jurisdictions, related to supervising ESG rating agencies, and it strongly endorses the overall objectives of these initiatives.

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Dubai, 18 December 2023 – Bloomberg announced today with IdealRatings, a financial data provider specializing in Islamic finance solutions, the launch of Islamic/Sharia-compliant indicator for fixed income securities (Sukuk) on the Bloomberg Terminal. This indicator, designed by IdealRatings to comply with the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) guidelines, marks a significant enhancement in the tools available to investors for identifying Shariah-compliant securities.

IdealRatings, known for its rigorous screening, plays a pivotal role in providing the newly launched Sukuk indicator to the Bloomberg Terminal, adhering to globally recognized AAOIFI standards. IdealRatings’ process involves assigning a clear pass, fail, or restricted status to each Sukuk, strictly following AAOIFI’s principles. This contribution is a significant addition to the Bloomberg Terminal’s capabilities in the area of Islamic finance, complementing the existing equities screening flag and enriching its analytical tools.

The demand for Islamic fixed-income securities, notably Sukuk, from global investors has been growing. According to Fitch Ratings, global Islamic Finance assets crossed $3.3 trillion in 2023, with strong growth expected in 2024. The global Sukuk issuance for the second quarter of 2023 also rose by 10% in core Islamic finance markets across the Middle East, Africa, and South Asia, further highlighting the sector’s growth and potential.

Giuseppe Netti, Regional Head of Bloomberg, Middle East & Africa said: “This launch represents a milestone in our commitment to developing sophisticated tools for Islamic finance. Our long-standing relationship with IdealRatings reflects our dedication to innovation and our ongoing effort to meet the diverse needs of global investors. The Islamic/Sharia-compliant indicator will empower investors with robust data and analytics, crucial for informed decision-making in the dynamic Islamic financial landscape.”

IdealRatings has been a trusted data contributor to Bloomberg for over a decade, and this collaboration is a testament to their combined expertise in financial data services and Islamic finance. The new dataset is poised to be a key resource for global investors seeking to explore opportunities in Islamic markets while adhering to Shariah principles.

Mohamed Donia, CEO of IdealRatings said: “The Bloomberg Sukuk indicator initiative represents a significant step forward in providing the industry with comprehensive and reliable data on Shariah-compliant fixed income securities. This collaboration further strengthens our commitment to delivering innovative solutions that meet the evolving needs of Bloomberg’s global client base.”

The Sukuk Shariah indicator is now available on the Bloomberg Terminal to customers worldwide.

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About Bloomberg

Bloomberg is a global leader in business and financial information, delivering trusted data, news, and insights that bring transparency, efficiency, and fairness to markets. The company helps connect influential communities across the global financial ecosystem via reliable technology solutions that enable our customers to make more informed decisions and foster better collaboration. For more information, visit Bloomberg.com/company or request a demo.

About IdealRatings

IdealRatings is a leading data and technology provider that empowers global investors, financial institutions, and data providers with an array of sustainable and faith-based investment solutions. IdealRatings provides data services, analytical tools, and reports for a global universe of equities, fixed income, and REITs with a mission to enable responsible investments worldwide. IdealRatings’ state of the art technology infrastructure offers over 10 million data points for diverse instruments backed by an experienced research team, proprietary methodology and robust guidelines customization engine. For more information, visit idealratings.com

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IdealRatings has been selected in the ESGFinTech100 list for 2023. This recognition highlights IdealRatings’ commitment to innovation and its contributions to sustainability and ESG objectives in the financial services. IdealRatings’ selection underscores its role as a driver of positive change and its support for financial institutions in their pursuit of ESG assessment and performance improvement strategies.

The post IdealRatings has been selected in the ESGFinTech100 list for 2023 first appeared on IdealRatings ESG, Ethical and Faith-based Screening Solutions.