Manama/Lebanon, June 2, 2009: Islamic International Rating Agency (IIRA) Islamic International Rating Agency (IIRA) announced today that it has entered into a cooperative agreement with Union of Arab Banks (UAB) Union of Arab Banks (UAB) . Under this agreement, IIRA IIRA and UAB UAB will organize joint training programs on Financial Institutions Analysis in different areas and jurisdictions.

Based in Manama Bahrain, IIRA IIRA is a regional rating agency which started its operations in 2005. IIRA IIRA is completely independent and transparent, and follows a consistent methodical and rigorous analytical process consistent with international best practice. IIRA 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 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) 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 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 IIRA and UAB 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.

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All of the information contained herein is obtained by IIRA IIRA from sources believed to be accurate and reliable. IIRA IIRA does not audit or verify the truth or accuracy of any such information. As a result, the information in this report is provided "as is" without any representation or warranty of any kind. IIRA IIRA 's rating is an opinion and not a warranty of a rated entity's current or future ability to meet contractual obligations, nor it is a recommendation to buy, sell or hold any security. Jamal Abbas Zaidi Chief Executive Officer Islamic International Rating Agency

© Press Release 2009 omar 1.1:zy