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) |

AFREXIMBANK and International Islamic Trade Finance Corporation (ITFC) Partner with ARSO to Facilitate Intra-African Trade in Pharmaceuticals and Medical Devices, under the Umbrella of the AATB Program

The new initiative aims to harmonise African standards for pharmaceuticals and medical devices thereby enhancing intra-African trade, reducing substandard counterfeit products, and building resilient regional health systems

The African Export-Import Bank (Afreximbank) and the International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org), have partnered with the African Organisation for Standardisation (ARSO), to launch a new Arab-Africa Trade Bridges Program (AATB) initiative called the Harmonisation of Standards for Pharmaceutical and Medical Devices in Africa, aimed at promoting the quality…

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

The International Islamic Trade Finance Corporation and Mizuho Bank Malaysia Sign US$100 million Trade Financing Deal

This Line of financing for ITFC is the first with a Japanese bank and in line with its strategy of developing partnerships with banks around the world to help extend trade financing to member countries of the Organisation of Islamic Cooperation (OIC)

The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org), member of the Islamic Development Bank (IsDB) Group, signed a US$100 million Murabaha-structured line of trade finance with Mizuho Bank in Malaysia, a subsidiary of Mizuho Bank Japan. This financing will help ITFC extend its support to the member countries under its…

Source: International Islamic Trade Finance Corporation (ITFC) |

The International Islamic Trade Finance Corporation (ITFC) and the Islamic Development Bank partner to Boost Institut Pasteur de Dakar’s and a network of African laboratories on COVID-19 Biomedical Research Program through IsDB Reverse Linkage Mechanism

The Institut Pasteur de Dakar is a biomedical research center in Senegal and its influence extends to West Africa and beyond

The International Islamic Trade Finance Corporation (ITFC) (https://www.ITFC-IDB.org/)  and the Islamic Development Bank (IsDB), are to support Institut Pasteur de Dakar (IPD) based in Senegal with medical equipment and biomedical research in the fight against COVID-19 across a network of laboratories in several Sub-Saharan African countries. This intervention is facilitated through…

Source: International Islamic Trade Finance Corporation (ITFC) |

International Islamic Trade Finance Corporation Signs US$8 Million Trade Finance Agreement with Uzbekistan based ‘Trustbank’

This Line of financing is in line with ITFC’s ‘Recovery Response Program’ (RRP), aimed at mitigating the adverse socio-economic impact of COVID 19 which is expected to last longer than immediate health impact of the virus

The International Islamic Trade Finance Corporation (ITFC) (https://www.ITFC-IDB.org/), member of the Islamic Development Bank (IsDB) Group, signed a US$8 million Murabaha-structured line of trade finance with the private joint stock bank, Trustbank in Uzbekistan, to minimize the impact of COVID-19 by supporting the import and pre-export financing needs of SMEs…

Source: International Islamic Trade Finance Corporation (ITFC) |

International Islamic Trade Finance (ITFC) Launches Trade Development Fund (TDFD) to Support Intra-Organisation of Islamic Cooperation (OIC) Trade Initiatives

Initial US$50 million capital will provide grants to design and deliver trade development projects/initiatives

The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org), member of the Islamic Development Bank (IsDB) Group, has launched a new Trade Development Fund (TDFD) with an initial target capital of US$50 million to support trade development projects in member countries of the Organisation of Islamic Cooperation (OIC) and Muslim communities…

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

International Islamic Trade Finance Corporation Extends Emergency Medical Financing to the State of Palestine in COVID-19 Response

ITFC intervention delivers life-saving front-line personal protective equipment in the fight against novel coronavirus

The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org), has agreed to an immediate US$ 40,000 financial support to the Ministry of Health in Palestine. The request was made by the Palestinian International Cooperation Agency (PICA) for the provision of medical equipment to the State of Palestine during the outbreak of…

Source: International Islamic Trade Finance Corporation (ITFC) |

Joint Statement by heads of multilateral development banks and the World Trade Organization (WTO) on supporting trade finance during the COVID-19 crisis

Since the beginning of the COVID-19 outbreak, multilateral development banks have stepped up trade finance programs to support essential imports and key exports

The COVID-19 pandemic has provoked the deepest economic downturn of our lifetimes. In addition to the ongoing shocks to supply and demand, international trade has been affected by a reduction in the supply of trade finance. Risk perceptions about non-payment in international trade are at the highest levels in a…

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

International Islamic Trade Finance Corporation Finances Afreximbank with US$200 Million COVID-19 Response Package for the Agriculture Sector in Sub Saharan Africa

Murabaha financing agreement delivers critical support for thousands of farmers exporting food commodities across the continent as COVID-19 impacts global food commodity prices

The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org), member of the Islamic Development Bank (IsDB) Group, signed a US$200 million syndicated Murabaha financing agreement with the African Export-Import Bank (Afreximbank), a multilateral financial institution established by African governments and institutional investors. The facility seeks to help African countries address some…

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

Republic of Benin COVID-19 Laboratories Commence Operations after Grant from the Arab Africa Trade Bridges (AATB) Program

The grant, which falls under the umbrella of the Arab-Africa Trade Bridges Program’s response to the COVID-19 crisis, provides immediate emergency funding to fight against novel coronavirus

The Arab Africa Trade Bridges (AATB) Program, led by the International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org) has granted emergency funding to the Republic of Benin to facilitate its COVID-19 ‘Screen-Isolate-Treat’ strategy as it fights to halt the spread of the virus. This initiative comes in line with the AATB…