International Islamic Trade Finance Corporation (ITFC) Wins Trade Finance Global International ‘Best Islamic Financier of the Year’ Award 2022
Award Celebrates ITFC’s Outstanding Commitment to Equitable Financing
The TFG International Trade Awards, which is in its sixth edition, recognizes industry players who have provided an outstanding contribution to global trade and finance
Trade Finance Global (TFG), the leading trade finance platform, has selected the International Islamic Trade Finance Corporation (ITFC) (www.ITFC-idb.org), a member of the Islamic Development Bank Group, as the ‘Best Islamic Financier of the Year’ 2022. The awards ceremony held in collaboration with the Bankers Association for Finance and Trade took place on May 4th during the BAFT Global Annual Meetings in Washington, USA. In attendance at the Awards Ceremony and Annual Meetings were industry leaders and stakeholders in the global finance and trade sectors.
The TFG International Trade Awards, which is in its sixth edition, recognizes industry players who have provided an outstanding contribution to global trade and finance. The awards are presented to businesses and service providers in trade, supply chain, and receivables finance. It serves as a recognition to award winners’ and the Awards logo is used as a badge of excellence in both the intermediary (B2B) and direct (B2C) markets.
ITFC’s underlying approach of working closely with key government, public and private sector institutions in Member Countries to meet their strategic national development objectives afforded it the agility to act fast and repurpose financing engagements to ensure the movement of critical goods and commodities, particularly medical supplies and pharmaceuticals, staple foods, and energy-related products such as fuel.
Accordingly, in 2021 the cumulative trade finance approvals grew to US$61.41 billion, with trade support extended to the critical sectors of Health, Energy, Agriculture, and SMEs, among others. This reflects ITFC’s crucial role as a catalyst of trade development in OIC Member Countries.
Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).
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About the International Trade Finance Corporation (ITFC):
The International Islamic Trade Finance Corporation (ITFC) is a member of the Islamic Development Bank (IsDB) Group. It was established with the primary objective of advancing trade among OIC member countries, which would ultimately contribute to the overarching goal of improving socioeconomic conditions of the people across the world. Commencing operations in January 2008, ITFC has provided US$61 billion of financing to OIC member countries, making it the leading provider of trade solutions for these member countries’ needs. With a mission to become a catalyst for trade development for OIC member countries and beyond, the Corporation helps entities in member countries gain better access to trade finance and provides them with the necessary trade-related capacity building tools, which would enable them to successfully compete in the global market.