BAKU, Azerbaijan, June 16. The International
Islamic Trade Finance Corporation (ITFC) has provided over $95
billion in trade finance to date, Chief Operating Officer at
International Islamic Trade Finance Corporation, Nazeem Noordali,
said at the 14th IsDB Group Private Sector Forum held in Baku,
Trend's
correspondent reports from the event.
According to Noordali, ITFC provides a wide range of short-term
trade finance instruments, including import-export financing, port
finance, warehouse finance, and structured commodity finance.
"We offer virtually the full range of trade finance products
available in the market," he noted.
He emphasized that ITFC is a dynamic and open trade finance
institution operating within the Islamic Development Bank
Group.
According to the official, the corporation was the first
multilateral organization to begin providing trade finance in
emerging markets, even before other international financial
institutions, including the World Bank and the Asian Development
Bank, began using similar mechanisms.
"We are proud to have been among the pioneers in trade finance
and continue to play an important role in providing development
finance, which is essential to supporting trade flows," he
added.
