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International Islamic Trade Finance Corporation (ITFC)

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    • The Arab Africa Trade Bridges Program (AATB) Fosters Trade Development in Africa with the Signing of Two Key Agreements at Intra Africa Trade Fair (IATF) 2023
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Source: International Islamic Trade Finance Corporation (ITFC) |

The Arab Africa Trade Bridges Program (AATB) Fosters Trade Development in Africa with the Signing of Two Key Agreements at Intra Africa Trade Fair (IATF) 2023

Agreements aim to accelerate Economic Growth and Establish a Platform for the Exchange of Knowledge and Capacity-building in Africa

The Arab Africa Trade Bridges Program, a multi-donor, inter-regional program, has signed two agreements aimed at fostering sustainable growth and development on the sidelines of the Intra Africa Trade Fair 2023 in Cairo, Egypt. Eng. Hani Salem Sonbol, the CEO of ITFC, Acting CEO of ICD, and Secretary General of…

International Islamic Trade Finance Corporation (ITFC)

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    • The International Islamic Trade Finance Corporation (ITFC) Chief Executive Officer (CEO) Honored with the Islamic Finance Personality of the Year Award 2023 by the Global Islamic Finance Awards
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Source: International Islamic Trade Finance Corporation (ITFC) |

The International Islamic Trade Finance Corporation (ITFC) Chief Executive Officer (CEO) Honored with the Islamic Finance Personality of the Year Award 2023 by the Global Islamic Finance Awards

Award Recognizes ITFC CEO’s Exceptional Contribution to the Promotion of Islamic Finance in Global Finance

The International Islamic Trade Finance Corporation (ITFC) (http://www.ITFC-idb.org) is proud to announce that its Chief Executive Officer, Eng. Hani Salem Sonbol has been recognized as the Islamic Finance Personality of the Year Award 2023 by the Global Islamic Finance Award (GIFA). The prestigious award ceremony took place in Dakar, Senegal,…

International Islamic Trade Finance Corporation (ITFC)

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    • ITFC CEO, Eng. Hani Salem Sonbol & H.E. Oulimata Sarr, Minister of Economy, Planning, and Cooperation of the Republic of Senegal
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Source: International Islamic Trade Finance Corporation (ITFC) |

The International Islamic Trade Finance Corporation (ITFC) Signs Euro 400 million 2023 Annual Plan with the Republic of Senegal and the Arab Africa Trade Bridges Country Program to Support the Key Sectors

Signed Agreements to Provide Trade Finance and Development Support for Continued Economic Recovery and to Offer New Support for the ‘Plan Sénégal Emergent’

The International Islamic Trade Finance Corporation (ITFC) (http://www.ITFC-idb.org), a member of the Islamic Development Bank Group (IsDB), today signed a Euro 400 million 2023 Annual Plan with the Republic of Senegal, within the revised US$1.5 billion five-years Framework Agreement signed in 2021 to include new priority sectors. The Annual Plan…

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

International Islamic Trade Finance Corporation (ITFC) Launches Documentary on the Senegal Edition of the Corporation’s West Africa Small and Medium Enterprises (SME) Program

Documentary Showcases the Program’s Impact on SMEs During the Covid Pandemic

The International Islamic Trade Finance Corporation (ITFC) (http://www.ITFC-idb.org), a member of the Islamic Development Bank Group (IsDB), will be premiering a documentary on the second country pilot of the West Africa SME Program that was launched in Senegal in 2019. The documentary will air on Afrique Media TV from the…

International Islamic Trade Finance Corporation (ITFC)

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    • Joint African Continental Free Trade Area Implementation Support Project Announces Progress Update
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Source: International Islamic Trade Finance Corporation (ITFC) |

Joint African Continental Free Trade Area Implementation Support Project Announces Progress Update

Project Activities Strengthened Agreement Implementation in Burkina Faso, Guinea, Niger, Senegal, and Togo

The African Continental Free Trade Area Implementation Support Project, a joint project established and funded by the United Nations Economic Commission for Africa (ECA), the Enhanced Integrated Framework (EIF), Islamic Development Bank (IsDB), the International Islamic Trade Finance Corporation (ITFC) (http://www.ITFC-idb.org) and the Trade Development Fund (TDFD), today announced a number of…

International Islamic Trade Finance Corporation (ITFC)

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    • The International Islamic Trade Finance Corporation Launches Four-Part Documentary Series on Senegal’s Groundnut Sector
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Source: International Islamic Trade Finance Corporation (ITFC) |

The International Islamic Trade Finance Corporation Launches Four-Part Documentary Series on Senegal’s Groundnut Sector

Documentary to air on Africanews and Afrique Media TV this December

The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-idb.org) will be releasing a series of four (4) short documentaries that showcase the depth of ITFC’s interventions in the Groundnut sector in Senegal. Called The ITFC Groundnut Project: Full Cycle, the documentary will air on Africanews from 16th to 31st December 2021…

International Islamic Trade Finance Corporation (ITFC)

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    • ITFC Signs a EUR 40 million Agreement with SONACOS to Finance 2021/22 Groundnut Season in Senegal
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Source: International Islamic Trade Finance Corporation (ITFC) |

ITFC Signs a EUR 40 million Agreement with SONACOS to Finance 2021/22 Groundnut Season in Senegal

This is to support the full recovery of the Senegalese economy as agriculture is a vital sector that contributes about 16% to the country’s GDP

The International Islamic Trade Finance Corporation (ITFC) (ITFC-idb.org), granted a Euro 40 million financing to Senegal National Groundnut Company (SONACOS). This facility is dedicated to the post-Covid recovery of the Senegalese agriculture sector, the facility is purposed at financing part of the 2021-2022 groundnut campaign. The financing shall cover about…

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) |

Over 1,000 Financial Stakeholders Participate in the Arab-Africa Trade Bridges Program Investment Pillar Webinar Aimed at Growing Regional Trade Investment and Technology Transfer

Initiative showcased key investment, trade and insurance pillars designed to improve trade between Arab and African countries, targeted at key sectors including agro-food, health, and pharmaceuticals amongst others

Under the umbrella of the Arab-Africa Trade Bridges (AATB) Program, three IsDB Group Private Sector Entities hosted a webinar on key trade finance and investment components aimed at fostering regional trade. The entities included the International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org), the Islamic Corporation for the Insurance of Investment…

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

International Islamic Trade Finance Corporation (ITFC) to enhance Groundnut Oil Quality Standards and boost Senegalese Export Capabilities

Technical Assistance in favour of SONACOS to boost global value chains, groundnut oil processing standards and Senegalese export capabilities as it seeks to enter new markets

The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, has approved a Grant Agreement for the Senegalese Groundnut Oil Processing Company, SONACOS, to acquire new laboratory analysis equipment. The Technical Assistance will enable SONACOS to acquire equipment that will specifically enable the…