Official twitter page of the International Islamic Trade Finance Corporation ITFC, an autonomous entity within the Islamic Development Bank Group (IsDB)
ITFC is pleased to announce the launch of its first
#Podcast
series
#WordsFromITFC
, covering impact across the globe in fighting the
#COVID19
pandemic.
#Podcast
series will also be uploaded to ITFC's YouTube channel, click to subscribe-
#ITFCImpact
This year, ITFC's
#ADERReport
emphasized the concept of additionality, at the core of ITFC's strategy and its role in providing support to member countries in their time of need.
Click to read ITFC's Annual Development Effectiveness Report -
Promoting Intra-OIC trade is ITFC's core mandate and so far, Intra-OIC trade value and share has shown showed a remarkable ascending trend with the volume of intra-OIC trade at US$763.4 billion
Read more -
#ITFCImpact
The USD$18 million West Africa SME Programme aims to reduce the trade finance gap for SMEs in the region by providing financing lines, capacity building and advisory services to partner banks and SMEs in West Africa.
More -
In Burkina Faso and Cameroon, since 2008, ITFC disbursed over US$840 million to provide agricultural inputs to
#cotton
producers and purchase in due time the seed-cotton harvested by farmers.
Watch Episode 1 -
#ITFCImpact
#WhiteGoldSeries
#Africa
Investments in agriculture are impactful, provided they adopt a value-chain approach that enhances productivity, promotes agro-processing, and increases access to markets.
Watch Episode 2 here -
#ITFCImpact
#WhiteGoldSeries
#Africa
#cotton
We would like to extend our congratulations to Prof. Benedict Oramah for his re-election as President of
@Afreximbank
. We look forward to our continued collaboration in enhancing trade integration in our member countries.
@aatb_program
The development impact of ITFC derives from its ability to provide trade finance for those that would otherwise lack it, or to provide finance in a way that increases the development impact of trade.
Read more in ITFC's
#ADER
-
Coming Soon! The
#podcast
series on ITFC's support to OIC member countries in view of the
#COVID19
pandemic. Stay tuned on our social media channels as well as our YouTube channel to hear key speakers speak on interventions and
#impact
so far.
#ITFCImpact
#FightCOVID
ITFC as part of the
@isdb_group
will mobilise a ‘Strategic Preparedness and Response Facility’ of US$730 million to mitigate the negative health and socio-economic impact of the
#COVID
-19 pandemic. Click to read more
ITFC is proud to have a partnership with
@ieGPAffairs
&
@ITCnews
to facilitate Executive Masters in Internationalisation and Trade (EMIT) a degree which focuses on trade, trade finance and trade development.
Click to find out more -
In 2014, the Egyptian government introduced an ambitious and innovative program to reduce waste and to guarantee bread for all.
Click to read more on the success of the program in
#ITFC
's ADER Report -
#ITFCImpact
#ADER
In response to the ongoing
#COVID19
global pandemic,
@ITFCCORP
is supporting OIC Member Countries by providing immediate crisis-related technical assistance programs, including capacity building for medical personnel and capacity enhancement of laboratories.
#FightCovid19
The agreement aims at providing feasibility study on establishing the center to serve
#dates
sector and converting dates to other products like molasses, vinegar, sugar, etc.
@isdb_group
#Vision2030
In response to the
#COVID19
pandemic, development organizations have attempted to respond to the multi-faceted pandemic crisis and help sub-Saharan African countries ride these difficult times.
#ITFCImpact
#FightCOVID
#MFW4AWebinarSeries
Funds will be used to ensure food security for all Egyptians by supporting the Government's procurement of staple foods like wheat and sugar during the
#COVID19
pandemic.
Agreement was signed on the 4th of May 2020
#ITFCImpact
In 2019, ITFC supported contract farming schemes by providing pre-export finance to state-owned agricultural companies with the redistribution of US$ 290million worth of income to groundnut and cotton producers in West Africa.
Read -
#ITFCImpact
#ADER
-
@ITFCCORP
participated in high level discussions on “Global Partnerships for Effective Development Cooperation”. We thank
@Egyptmfa
for organizing this virtual roundtable to advance the
@UN
#SDGs
ITFC CEO Eng. Hani Salem Sonbol received Mr. Saleh Al-Sulami, Secretary General,
@SaudiExports
at the ITFC Head Quarters, in
#Jeddah
to discuss joint objectives and areas of collaboration focusing on private sector development.
#Vision2030
#ITFCImpact
#COVID19
highlights
@sdg
3 - Good Health and Well Being as it becomes now, more than ever, a pre-requisite to achieve the 2030 Development Agenda. ITFC closely monitors the evolution of the pandemic to adapt our responses & maximize our support where required.
#fightcovid19
SMEs play a crucial role in poverty alleviation & economic growth and in 2019, ITFC’s overall private sector approvals reached US$821m benefiting about 120 corporations-mostly SMEs, employing around 45000 persons.
Click to read ITFC's
#ADER
-
#ITFCImpact
During the second panel discussion, morderated by Nazeem Noordali, the panellists shared their multilateral perspectives on “The Role of FIs in Sustainable Farming”.
#Agritechwebinar
The financing gap remains a key obstacle on the road to the SDGs and it will require an alliance of diverse stakeholders to bridge the gap. Click to read more about ITFC's impact with regards to the
#SDGs
-
#ITFCImpact
#ADER
CEO of Coris Bank International Burkina Faso Diakarya Ouattar, speaks on the West Africa SME Programme and how it has benefited Small & Medium Enterprises in the country.
Click to find out more -
#WestAfricaSMEs
#ITFCImpact
Since 2008, 18% of ITFC's total approvals in food and agriculture have gone towards the import of agricultural inputs leading to overall increased yields and product quality.
Click to read more in ITFC's
#ADER
Report-
#ITFCImpact
It was a pleasure to receive the
@isdb_group
President, H.E Dr. Bandar MH Hajjar at the ITFC Headquarters in
#Jeddah
, where several areas were discussed including updates on ITFC’s working environment and ongoing initiatives.
#ITFCImpact
ITFC CEO on the recent signing of a US$200m agreement with
@afreximbank
to support during the
#COVID19
pandemic. Afreximbank is also a key partner of
@aatb_program
aimed at enhancing economic integration between Africa and the Arab region
#FightCOVID
#ITFCImpact
Today, ITFC hosted a workshop on Warehouse Receipt (WHR) financing for Financial Institutions Operating in Pakistan in partnership with the
@StateBank_Pak
and Economic Affairs Division.
#TradeFinance
#IslamicBanking
Boosting SME growth in OIC member countries is especially important during the
#COVID19
pandemic. ITFC has therefore approved US$15 million financing for
@thecitybank
Bangladesh to to support the nation’s SME imports.
#ITFCImpact
The wheat policy is of strategic importance to the Egyptian Government to ensure food security. Since 2018, ITFC has supported Egypt's efforts through a trade finance facility benefiting the
#GASC
, including a recently signed US$100m agreement.
#ITFCImpact
Through
@aatb_program
the support provided will allow IPD’s partner laboratories across 10 African member countries to receive medical equipment &collaborate through the sharing of knowledge and expertise response to
#COVID19
through a dedicated platform.
#AATBProgram
Did you know? Previously held
@aatb_program
B2B meetings have led to various deals worth over USD$80million in value. ITFC looks forward to a successful session in
#Dakar
, Senegal on the 7th and 8th of November 2019
#ITFCImpact
#AATBDakar
ITFC announces its Trade Development Fund aimed at building-up and provide charitable resources for funding trade development initiatives in Member Countries & Muslim communities in non-member countries with an initial capital target of US$50million.
#ITFCImpact
#TDFD
The financing will support the
#agric
sector (the continent’s largest employer & key driver of SMEs). It will facilitate the export of soft commodities like cashew nuts, cocoa, sesame seeds and white maize, especially during the
#COVID19
pandemic.
#FightCOVID
#ITFCImpact
ITFC provides an immediate grant of US$ 40,000 to allow Ministry of Health, Palestine to procure with necessary medical equipment for
#COVID19
.
#FightCOVID
#ITFCImpact
Under auspices of Minister of Trade & Industry,
#ITFC
CEO & Minister of Investment & Int'l Cooperation witnessed the Graduation Ceremony of the Training and Employment for Export Project (TREE) which was launched as part of Aid for Trade Initiative for Arab States (AfTIAS)
Minister of Investment & Int'l Coop witnessed the Graduation Ceremony under the auspices of The Minister of Trade and Industry in Egypt. Funded by
#ITFC
and organized by FTTC, MSMEDA Egypt &
#AfTIAS
for the youth who have completed a training programme in export & foreign trade.
ITFC CEO Eng. Hani Salem Sonbol met the VP of
@CGEM_MA
Mr. Mehdi Tazi in
#Morocco
. ITFC looks forward to developing a strong partnership with CGEM - Confédération Générale des Entreprises du Maroc
#ITFCImpact
Building strong value chains strengthens regional integration which positively impacts African economies and improves people's lives.
#ITFCImpact
#AM44
The US $10 million financing facility (as part of ITFC's
#COVID19
Rapid Response Initiative (RRI) will support
#Mauritania
's medical sector specifically to procure medicine and equipment for the struggle against COVID-19.
#ITFCImpact
#FightCOVID
#ITFC
#CEO
met with Minister of Supply & Internal Trade of Egypt to discuss financing plan for the supply of essential commodities and food products. ITFC signed US$1 billion dollars Agreement with the Ministry in Sept’18 for goods supplies
#Cairo
#tradefinance
#tradedevelopment
The recently launched Capacity Building Program is provided to enhance the capacities of the General Authority for Supply Commodities (
#GASC
) &
@mpedegypt
, it will cover all the procedures related to commodities admission.
#ITFCImpact
Sustainable & uninterrupted energy supply is key to socio-economic dev't. ITFC supports Member Countries by providing financing to ensure adequate energy supply, thereby impacting productivity, health and more.
Find out more in ITFC's
#2019AnnualReport
-
#ITFCImpact
Fuel is a strategic commodity for
#Maldives
as tourism and fishing rely heavily on it. Recently, ITFC CEO met with the President
@presidencymv
@ibusolih
and Minister of Finance,
@iameeru
to discuss ITFC's role in providing trade solutions for strategic commodities.
#ITFCImpact
The ITFC White Gold Series will launch in the next few days covering ITFC's prominent intervention in the West African cotton sector. Watch live on
@cnbcafrica
at 14.30GMT-
The documentary will also launch on
@afriquemedia
from 16th - 19th November.
Eng.
@hani_hsunbol
, the CEO of ITFC, and Prof. Benedict Oramah, the President
@afreximbank
, had fruitful bilateral meetings at the 48th
@isdb_group
Annual Meetings in
#Jeddah
.
The discussions primarily focused on exploring cooperation opportunities within the
@AfCFTA
framework
ITFC,
@ieGPAffairs
and
@ITCnews
are proud to announce the name change!
This program is pioneering degree designed to give talented professionals a deeper understanding of the dynamics that are reshaping trade and globalization -
#ITFCImpact
#EMIT
ITFC
#CEO
alongside distinguished speakers participated at the 2nd "Africa Talks" by
@MazarsGroup
. The session focused on the impact of AfCFTA & ECO on growth in Africa
#ITFCImpact
#AfricaTalks
As part of our mission to advance trade and improve lives, ITFC has supported groundnut farming in Senegal with US$50 million. This sector is highly strategic as it employs 482,000 farmers, contributes to 2/3 of export revenues & contributes 17% to the GDP.
#ITFCImpact
#AM44
On 4 April, at the Agdal Ballroom, Four Seasons Hotel (Marrakech, Morocco)
#ITFC
will host a Forum on Regional value chains to shed light on the potential of Trade and Investment within Africa morderated by Mr. Abdou Diop, Managing Partner, Mazars
#ITFCImpact
cc
@jaomahony
Thank you to workshop attendees and the State Bank of Pakistan and Economic Affairs Division for successful sessions in Islamabad and Karachi,
#Pakistan
. ITFC looks forward to further cooperation with local Financial Institutions in the country.
#ITFCImpact
#IslamicFinance
This week:
#ITFC
#CEO
Eng. Hani Salem Sonbol &Minister of Trade&Industry of Egypt Eng. Amr Nassar met to discuss areas of cooperation related to Trade Finance & Development. Since 2008, ITFC has provided more than US$8bn in support of energy and strategic food products
#Cairo
In 2018, ITFC partnered with The Gambia's National Food Security, Processing & Marketing Corporation to provide a holistic approach to combat
#aflatoxin
, including training and awareness of farmers on the use of Aflasafe.
Read more -
#ITFCImpact
#ADER
Click to read more on how ITFC supports 28 member countries in Africa with trade interventions to help develop sectors in line with each county's overall goals on
@AfricanReview
Read -
#ITFCImpact
.
@bankofmaldives
is the first partner institution in the Maldives to work with ITFC as it expands its financing outreach to the private sector through local banks in the country.
#ITFCImpact
#FightCOVID
Over the years, ITFC has focused greatly on incorporating local producers in global value chains. Click to watch how ITFC has impacted in the cotton industry so far.
Watch live
@cnbcafrica
-
#ITFCImpact
#WhiteGoldSeries
During the
@iatf2021
, ITFC and AU Trade and Industry Commission will organize under the
@aatb_program
, a Forum on “The Role of Arab Africa Trade Bridges in Facilitating the Implementation of the AfCFTA”to discuss the potential for trade b/w Africa and the Arab region.
ITFC thanks workshop attendees and partners for successful sessions from the 18th - 20th of Feb in the Kyrgyz Republic. Participants were further educated about trade finance, with a particular focus on Islamic trade finance tools and mechanisms.
#ITFCImpact
As
#ITFC
prepares for the 44th Annual
@isdb_group
meeting in Marrakech, Morocco from the 3rd - 6th of April, we are taking our followers through the journey of our
#impact
so far on
#ArabAfricaTrade
and improving Value Chains across OIC Markets.
#ITFCImpact
The
#COVID19
pandemic is posing an unprecedented challenge to the global economy.
@ITFCCORP
has moved quickly to provide $850 million in emergency financing to mitigate the socio-economic risks that the virus poses to our stakeholders in OIC member countries.
#fightcovid19
The 2nd edition of “Africa Talks”, powered by
@MazarsGroup
was a success and brought together African executives and decision-makers to evaluate the AfCFTA as a means of improving free movement of people, goods and services in Africa.
#ITFCImpact
#AfricaTalks
ITFC CEO meets with Dr. Vera Songwe (
@SongweVera
), Executive Secretary of the
@ECA_OFFICIAL
, UNECA to discuss further areas of collaboration, following an active partnership at strategic and policy levels including the African Continental Free Trade Area (AfCFTA).
#ITFCImpact
The most recent B2B meetings hosted by ITFC and the
@AATBprogram
were a huge success. ITFC looks forward to the upcoming to be held in
#Dakar
, Senegal on the 7th & 8th of November at the King Fahad Palace
#ITFCImpact
#AATBDakar
On 10th February, ITFC CEO participated in a high level round table at the
@WorldGovSummit
held in Dubai, UAE. This conference serves as a knowledge exchange platform for leaders in the public and private sectors to convene and collaborate
ITFC's trade finance activities aim to improve livelihoods & foster economic growth among member countries by implementing Trade Related Technical Assistance Projects thereby adopting a holistic approach to dev't impact.
Click to read -
#ADER
Currently, with the
#COVID
-19 crisis, this gap is at risk of widening. Click to read more from ITFC CEO on how trade finance institutions must take the lead in efforts to strengthen SME resilience. cc
@tradefinglobal
#ITFCImpact
🌍✨ "Developing the flow of trade between African Countries and the rest of the World is an ITFC Priority" affirms Nazeem Noordali, our Chief Operating Officer.
🤝 Our commitment to the continent's growth and development is unwavering, as we work hand in hand to shape a
As part of ITFC's Innov
@ITFC
internal campaign, Fairtrade Expert, Norman Roy (Project Manager - Equiterre) led a workshop on the importance of Fairtrade and how it can become a development strategy to support OIC Member Countries.
#ITFCImpact
#InnovITFC
Over the years, ITFC has focused on incorporating local producers in global value chains, by improving their access to knowledge and inputs.
Click to find out how in ITFC's
#ADER
covering the organization's key impact in this sector -
ITFC CEO Eng. Hani Salem Sonbol joined the 2nd Africa Talks by
@MazarsGroup
and shared thoughts on the impact of AfCFTA and ECO on growth in Africa among other high level speakers. Click to watch the event overview
Cc
@aatb_program
#ITFCImpact
B2B Meetings are extremely important in the import/export industry as they allow for face-to-face meetings between businesses in different regions. ITFC and
@AATB_Program
will host B2B meetings on the sidelines of the AATB Governing Board Meeting in
#Dakar
on 7th and 8th November
During the recently held
#GTRTurkey
, Harun Celik, Senior Manager, ITFC Istanbul Regional Office, presented ITFC’s Trade Solutions and an overview on Islamic Finance sector in Turkey. Special focus on Islamic Factoring in view of the collaboration between ITFC and FCI
#ITFCImpact
ITFC organized a four-day training workshop on "Sovereign Debt Management" in
#Jeddah
, Saudi Arabia. Delegations from the governments of
#Pakistan
and the
#Maldives
attended the gathering.
ITFC’s strategic plan reflects the role and ambition to become a world class trade enabler and trade facilitator, and thereby become “the leading provider of trade solutions for OIC member countries’ needs”.
#ITFCImpact
In 2019 ITFC provided financing for
#agric
commodities essential for Member Countries to create jobs, enhance household incomes, improve productivity & alleviate poverty.
Click to read ITFC's
#2019AnnualReport
-
#ITFCImpact
#ITFC
is keen on capital generation and growth in various industries across Africa with the aim of highlighting the potential of the continent to
#OIC
member countries as well as the promotion of
#ArabAfricaTrade
.
Watch more on
@cnbcafrica
on Monday 14th January, at 13h30 CAT
ITFC, under
@aatb_program
will organize the “4th Edition of the B2B on Pharmaceutical Products & related Industries" during the
@iatf2021
to allow producers & importers from Arab/African Countries to explore partnerships in the sector. cc
@afreximbank