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

International Islamic Trade Finance Corporation Signs US$5 million Murabaha Financing Facility to support SMEs in Maldives

ITFC partnership will enable Bank of Maldives, the country’s leading financial institution, to provide financial support to SMEs

The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org), member of the Islamic Development Bank (IsDB) Group, has approved a US$5 million Murabaha Financing Facility in favour of Bank of Maldives to support the Bank’s private sector businesses, particularly SMEs importing raw materials from the international markets. Bank of Maldives is…

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…