ITFC holds meeting on enhancing trade, economic cooperation with member countries

The final day also featured the signing of a US$20 million financing with Asakabank, Uzbekistan to enhance the Islamic financial services in Uzbekistan and support the private sector and SMEs.

 During the final day of the 49th IsDB Annual Meetings, the International Islamic Trade Finance Corporation (ITFC) (http://www.ITFC-idb.org), a member of the Islamic Development Bank (IsDB) Group, held further high-level discussions with member countries including Guinea Conakry and Turkmenistan, and partner banks and financial institutions. The outcomes achieved during the various engagements during the Annual Meetings demonstrate ITFC’s commitment to advancing trade and enhancing economic cooperation across its member countries.

The final day also featured the signing of a US$20 million financing with Asakabank, Uzbekistan to enhance the Islamic financial services in Uzbekistan and support the private sector and SMEs.

Eng. Hani Salem Sonbol, CEO of ITFC, commented on the final day’s events: “The ITFC team was honored to be part of the 49th IsDB Annual Meetings where the Bank celebrated its 50th anniversary of promoting comprehensive human development. The Annual Meetings provided opportunities to put a spotlight on the ITFC role as a catalyst in facilitating trade development among OIC member countries and beyond. During the meetings, ITFC signed several significant financing and trade development agreements that will positively impact socio-economic development in OIC member countries. The results of the Annual Meetings were a resounding success.”

 As the curtains fall on the 49th IsDB Group Annual Meetings, ITFC's impactful engagements and strategic agreements was manifested in delivering over US$5.6 billion of commitments, demonstrating the Corporation's dedication to boosting trade finance and fostering economic development. This reaffirms ITFC's role as a key player in promoting sustainable economic growth and trade cooperation among OIC member countries. 

(With Inputs from APO)