International Islamic Trade Finance Corporation (ITFC) and Prime Bank Sign US$15 million Murabaha Financing Facility to support SMEs in Bangladesh
ITFC’s partnership will enable one of Bangladesh’s top tier financial institutions to provide Islamic financing to SMEs
DHAKA, People s Republic of Bangladesh, January 26, 2021/APO Group/
The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org), member of the Islamic Development Bank (IsDB) Group, has approved a US$15 million Murabaha Financing Facility in favour of Prime Bank Limited, Bangladesh to facilitate cross-border import transactions of the bank’s private sector businesses, particularly SMEs.
Prime Bank and ITFC signed the financing agreement to boost the rebounding of SMEs in readiness to the return to growth post pandemic. ITFC is continuously expanding its financing outreach to the private sector through local banks in Bangladesh. The financing comes at a critical time as SMEs in Bangladesh an
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The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, has signed a US$10 million Line of Trade Finance Agreement with PJSCB Orient Finans to support private sector and SME development in Uzbekistan.
Commenting on the Line of Trade Finance Facility,
Eng. Hani Salem Sonbol, ITFC CEO, said:
“This US$10 million trade finance facility for PJSCB Orient Finans will allow ITFC to enhance its support to Uzbekistan as the private sector in the country seeks to recover from the social and economic impact of the coronavirus pandemic. The development impact that these lines of trade finance have are widespread and indicative of ITFC’s unbending commitment to Uzbekistan, its people and its socio-economic growth.”
International Islamic Trade Finance Corporation launches its Letter of Credit (LC) Confirmation Facility cnbcafrica.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cnbcafrica.com Daily Mail and Mail on Sunday newspapers.