International Islamic Trade Finance Corporation (ITFC)
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    • Eng. Hani Salem Sonbol on Wednesday 26 October in Riyadh, Saudi Arabia
    • PIF (Public Investment Fund) Announced International Islamic Trade Finance Corporation (ITFC) as a Successful Bidder at the Voluntary Carbon Market Initiative Auction during the Future Investment Initiative Conference in Riyadh
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Source: International Islamic Trade Finance Corporation (ITFC) |

PIF (Public Investment Fund) Announced International Islamic Trade Finance Corporation (ITFC) as a Successful Bidder at the Voluntary Carbon Market Initiative Auction during the Future Investment Initiative Conference in Riyadh

The Public Investment Fund (“PIF” or the “Fund”) announced the auction resulted in 1.4 million tons of carbon credits, in the largest-ever carbon credit sale, according to their resources

The International Islamic Trade Finance Corporation (ITFC) (https://www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, today was announced as a successful bidder at the Voluntary Carbon Market Initiative Auction on the First day of the 6th Edition of the Future Investment Initiative (“FII”) in Riyadh. The Public Investment…

International Islamic Trade Finance Corporation (ITFC)
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    • Minister of Finance and Banking Sector, Comoros, H.E. Kamalidini Souef & CEO of ITFC, Eng. Hani Salem Sonbol
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Source: International Islamic Trade Finance Corporation (ITFC) |

ITFC Provides €35 Million in Financing to Support Energy and Food Security in Comoros

Funding to Support the Import of Petroleum products, LPG and Food Commodities

The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-idb.org), approved two new financing facilities for EUR 35 million in favor of the Union of Comoros, with EUR 25 million dedicated to support the import of energy commodities such as petroleum products and LPG, while EUR 10 million will be allocated to…

International Islamic Trade Finance Corporation (ITFC)
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    • International Islamic Trade Finance Corporation (ITFC) Signs a Euro 100 million Murabaha Financing Agreement with SENELEC, Dedicated to Support Senegal’s Energy Sector (1)
    • International Islamic Trade Finance Corporation (ITFC) Signs a Euro 100 million Murabaha Financing Agreement with SENELEC, Dedicated to Support Senegal’s Energy Sector (2)
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Source: International Islamic Trade Finance Corporation (ITFC) |

International Islamic Trade Finance Corporation (ITFC) Signs a Euro 100 million Murabaha Financing Agreement with SENELEC, Dedicated to Support Senegal’s Energy Sector

The company’s strategic mandate is to ensure the production, transmission, and distribution of electricity in Senegal

The International Islamic Trade Finance Corporation (ITFC) (ITFC-idb.org) approved a Euro 100 million Murabaha financing to SENELEC (Senegal National Power Company). The company’s strategic mandate is to ensure the production, transmission, and distribution of electricity in Senegal. This approval reflects ITFC’s commitment to supporting the availability and affordability of electricity in…

International Islamic Trade Finance Corporation (ITFC)
Source: International Islamic Trade Finance Corporation (ITFC) |

International Islamic Trade Finance Corporation releases 2019 Annual Development Effectiveness Report

Report highlights impact of US$ 5.8 Billion financing towards Advancing Trade in Organization of Islamic Cooperation (OIC) Member Countries

The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org), member of the Islamic Development Bank (IsDB) Group, today released its 2019 Annual Development Effectiveness Report (ADER).  In 2019, ITFC approved US$5.8 billion trade financing, a 12% increase from the previous year, to advance trade in member countries. Of this, US$5 billion…

International Islamic Trade Finance Corporation (ITFC)
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International Islamic Trade Finance Cooperation provides US$850 million for COVID-19 Emergency Interventions for Organization of Islamic Cooperation (OIC) Member Countries in Most Need

Interim funds to be scaled up through close collaboration with strategic partners to offer trade finance and trade development solutions that meet the direct needs of member countries

Societies and economies are being affected by the unprecedented and unpredictable nature of the COVID-19 pandemic. These include a major shift in global trade routes, changes in consumption and extraordinary levels of monetary easing and stimulus packages at a scale never experienced before. The International Islamic Trade Finance Corporation (ITFC)…

International Islamic Trade Finance Corporation (ITFC)
Source: International Islamic Trade Finance Corporation (ITFC) |

International Islamic Trade Finance Corporation recognized as Best Islamic Financier at the International Trade Finance Global (TFG) Trade Awards 2020

The winners were selected by an independent steering committee of industry experts from around the world

The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, has been named ‘Best Islamic Financier’ by the trade finance platform, Trade Finance Global (www.TradeFinanceGlobal.com), in cooperation with BAFT (www.BAFT.org). The international work carried out by banks, financial institutions and technology vendors to…

Source: International Islamic Trade Finance Corporation (ITFC) |

Federated Investors, Inc. and International Islamic Trade Finance Corporation to Develop a Trade-Finance Portfolio Focused on Sovereign Energy Sector

The portfolio will be Shari’ah compliant with investments realized through transaction structures that rigorously adhere to Islamic principles

Federated Investors, Inc. (NYSE: FII) (www.FederatedInvestors.com/FII/home.do), one of the largest investment managers in the United States, and the International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org/en), member of the Islamic Development Bank (IsDB) Group, announced an agreement to launch a sovereign energy trade-finance portfolio. The ITFC Sovereign Energy Fund (ISEF) will…

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    • ITFC Finances US$ 100 Million to Boost Maldives Energy Sector
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Source: International Islamic Trade Finance Corporation (ITFC) |

ITFC Finances US$ 100 Million to Boost Maldives Energy Sector

The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org), member of the Islamic Development Bank (IsDB) Group signed with the State Trading Organization (STO), a government owned company in the Republic of Maldives, a syndicated murabaha financing agreement for US$ 100 million. The Murabaha financing will secure more than 75% of…

Source: International Islamic Trade Finance Corporation (ITFC) |

The International Islamic Trade Finance Corporation (ITFC) Signs a EUR 110.5 Million Agreement with SENELEC to Boost Senegal’s Energy Sector

The operation will contribute to secure the supply of petroleum products for electricity generation and power plants in the country

The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org), member of the Islamic Development Bank (IsDB) Group (www.IsDB.org), signed a EUR 110.5 Million Murabaha Financing Agreement (CFA Franc 72.5 Billion), in favor of SENELEC (Senegal National Power Company) to enhance the country's power system efficiency. The agreement was signed by Eng.…

International Islamic Trade Finance Corporation (ITFC)
Source: International Islamic Trade Finance Corporation (ITFC) |

ITFC Fuels The Gambia’s Energy Sector with a US$ 45 Million Financing

The signing ceremony took place at the conclusion of the IsDB Group Governors’ lunch on the sidelines of the World Bank/IMF meeting held in Washington DC

The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, signed a US$ 45 million Murabaha Financing Agreement with the government of The Gambia. H.E Mr. Amadou Sanneh, Minister of Finance and Economic Affairs of The Gambia (Governor of the Islamic Development Bank),…