International Islamic Trade Finance Corporation Maintains Moody’s Flagship A1 Rating with Stable Outlook

Moody’s Investors Service has issued its credit opinion on the International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, and reaffirmed its A1 rating with stable outlook. The rating is supported by ITFC’s “Very Large Capital Reserves”, “Robust Liquidity, reflecting the self-liquidating nature of the funding portfolio”, “Conservative Cash Investment Practices”, “Adequate liquidity management” and “Very high implicit member support”. .

According to Moody’s, “ITFC’s transition to a more leveraged balance sheet was accompanied by improvements to its liquidity risk management policy in November 2018” and “Treasury asset management guidelines have also been strengthened with maximum maturity and exposure caps by asset type.” Moody’s also stated, “ITFC’s lower NPE ratio was partly achieved through strengthened credit risk policies, including in response to former NPEs.”

Eng. Hani Salem Sonbol, The Director General of ITFC, said “We are very pleased that the ITFC has maintained Moody’s A1 rating with a stable outlook. The note is a testament to the entire ITFC team who performed extremely well during the time of the global pandemic and the impact of ongoing geopolitical challenges, ensuring that ITFC continued to provide member countries of the OIC in these difficult times. We have remained flexible to respond to growing funding demands from our member countries while fulfilling ITFC’s mandate to “Advancing Trade and Improving Lives”. Going forward, ITFC is confident that we will continue to strengthen the foundations of global trade as the global economy faces increasing challenges such as environmental concerns, high inflation, food security and rising energy costs.

Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).

Contact us:
Twitter: @ITFCCORP
Facebook: @ITFCCORP
LinkedIn: International Islamic Trade Finance Corporation (ITFC)
Tel: +966 12 646 8337
Fax: +966 12 637 1064
E-mail: [email protected]
Website: www.ITFC-IDB.org

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 primary objective of advancing trade among 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 $66 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 successfully compete in the global marketplace.