Trade Finance Global (TFG), the leading trade finance platform, has selected the International Islamic Trade Finance Corporation (ITFC) (www.ITFC-idb.org), a member of the Islamic Development Bank Group, as the ‘Best Islamic Financier of the Year’ 2022. The award ceremony organized in collaboration with the Association of Bankers for Finance and Commerce took place on May 4and at the BAFT Global Annual Meetings in Washington, USA. Attending the awards ceremony and annual meetings were industry leaders and stakeholders from the global finance and trade sectors.
Now in its sixth year, the TFG International Trade Awards honor industry players who have made outstanding contributions to global trade and finance. The awards are given to companies and service providers in the areas of trade, supply chain and receivables finance. It serves as recognition for the winners and the awards logo is used as a badge of excellence in the intermediate (B2B) and direct (B2C) markets.
ITFC’s underlying approach of working closely with key government, public and private institutions in member countries to achieve their strategic national development objectives has given it the flexibility to act quickly and redirect funding to ensure the movement of essential goods and products, in particular medical supplies and pharmaceuticals, staple foods and energy-related products such as fuel.
As a result, in 2021, cumulative trade finance approvals increased to US$61.41 billion, with trade support extended to critical sectors of health, energy, agriculture and SMEs, among others. This reflects the crucial role of ITFC as a catalyst for trade development in OIC member countries.
Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).
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About the International Trade Finance Corporation (ITFC):
The International Islamic Trade Finance Corporation (ITFC) is a member of the Islamic Development Bank (IDB) Group. It was established with the main objective of advancing trade among the OIC member countries, which would ultimately contribute to the overriding objective of improving the socio-economic conditions of people across the world. Commencing operations in January 2008, ITFC has provided $61 billion in financing to OIC member countries, making it the leading provider of business solutions for the needs of these member countries. With a mission to become a catalyst for trade development for OIC member countries and beyond, the Corporation assists entities in member countries to gain better access to trade finance and provides them with the necessary capacity building tools. trade-related capabilities, which would enable them to compete successfully. in the world market.
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