Business & Money | Monday 9 May, 2016 3:17 am |

The rich heritage, portrayed by many years of experience and knowledge under the Islamic Development Bank (IDB) Umbrella, has placed the International Islamic Trade Finance Corporation (ITFC) in a leading position as the recognized provider of Islamic Trade Finance Solutions. This pioneering differentiation has also aided in developing, and implementing the anticipated objectives with the aim of promoting economic and social development among OIC Member Countries. Also, the latter has contributed in formulating Shariah-compliant innovative finance tools, and establishing standards and ethics to be followed in the business.

Complementary to the march of progress and prosperity, ITFC has won the 2016’s Best Islamic Commodities Provider Award.

That is within the framework of the annual awards granted by "Global Finance" to the best Islamic financial institutions in the world for the ninth consecutive year.

About the Corporation

The International Islamic Trade Finance Corporation (ITFC) is a member of the Islamic Development Bank (IDB) Group, as the provider of Islamic Trade Finance and Trade Development.

The Corporation’s main objective is to facilitate and promote trade among the Member Countries of the Organization of Islamic Cooperation (OIC).

It is in fact the leading Corporation in providing Islamic financial services to governments and companies on a global scale.

In his statement, Eng. Hani Salem Sonbol, Acting Chief Executive Officer of ITFC, confirmed that the main purpose for establishing this Corporation as a catalyst for the development of trade among OIC Member countries and in doing so, help countries engage through trade with the rest of the world.

He added that ITFC has a mandate to finance the strategic commodities in countries where it have major impact and strong potential to make a positive difference in the lives of the common people, particularly in rural areas.”

All in all, this leading Corporation always strives to increase the intra trade size to support the sustainable economic development, and increase the welfare of millions of people across the world.

 

The Islamic Corporation, as a financial company, works on providing a range of Islamic trade finance products and services; so that companies can use effective global products and services that fully comply with the Shariah provisions, which help in removing trade barriers, facilitating transactions, reducing costs, and strengthening partnerships.