Source: Africa Press Organisation – English – Report:
About the International Islamic Trade Finance Corporation (ITFC):
The International Islamic Trade Finance Corporation (ITFC) (http://www.ITFC-IDB.org) is a member of the Islamic Development Bank (IsDB) Group. It was established with the primary objective of advancing trade among OIC Member Countries, which would ultimately contribute to the overarching goal of improving socioeconomic conditions of the people across the world.
Commencing operations in January 2008, ITFC has provided more than US$51 billion to OIC Member Countries, making it the leading provider of trade solutions for the Member Countries’ needs. With a mission to become a catalyst for trade development for OIC Member Countries and beyond, the Corporation helps entities in Member Countries gain better access to trade finance and provides them with the necessary trade-related capacity building tools, which would enable them to successfully compete in the global market.
About the Islamic Development Bank (IsDB):
The Islamic Development Bank (IsDB) (https://www.IsDB.org/) is a multilateral development bank that has been working for over 40 years to improve the lives of the communities it serves by delivering impact at scale.
We bring together 57-member countries across four continents, touching the lives of 1 in 5 of the world’s population. We are one of the world’s largest multilateral development banks, with an annual volume of operations above $10 billion and subscribed capital of $33 billion.
The IsDB is headquartered in Jeddah, Saudi Arabia, with major hubs in Morocco, Malaysia, Kazakhstan and Senegal, and gateway of offices in Egypt, Turkey, Indonesia, Bangladesh and Nigeria.
Our mission is to equip people to drive their own economic and social progress at scale, putting the infrastructure in place to enable them to fulfil their potential. We build collaborative partnerships between communities and nations, and work towards the UN Sustainable Development Goals, by harnessing the power of science, technology and innovation and fostering ethical and sustainable solutions to the world’s greatest development challenges.
The Islamic Development Bank Group:
The IDB Group has evolved from a single entity into a group comprising of five entities: Islamic Development Bank (IsDB), Islamic Research and Training Institute (IRTI), Islamic Corporation for the Development of the Private Sector (ICD), Islamic Corporation for the Insurance of Investment and Export (ICIEC), and International Islamic Trade Finance Corporation (ITFC).
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