International Islamic Trade Finance Corporation (ITFC) Ranks 2nd Globally

International Islamic Trade Finance Corporation (ITFC) Ranks 2nd Globally and as well in Europe, Middle East and Africa (EMEA) as Islamic Finance Bookrunner and Mandated Lead Arranger – Bloomberg Syndicated Loans League Tables 2019

Jeddah, Saudi Arabia 18 March 2020 – The International Islamic Trade Finance Corporation (ITFC), member of the Islamic Development Bank (IsDB) Group, ranked 2nd Globally and as well in Europe, Middle East and Africa’s (EMEA) Islamic Finance listings of the Bloomberg Syndicated Loans League Tables 2019 for the largest Bookrunner and Mandated Lead Arranger.

The League Tables, showed that the ITFC provided financing worth in excess of US$2 billion as Bookrunner and Mandated Lead Arranger in 2019, cementing its position as a solid and reputable Partner with which other banks and financial institutions strive to work.

“The ITFC’s ranking in the 2019 Bloomberg Global Syndicated Loans League Tables represent a major milestone in our journey towards boosting inclusive socio-economic growth across OIC member countries. Thanks to our partners, ITFC was able to make widespread progress in developing strategically important relationships with OIC member countries and in facilitating financing for incredibly important industry sectors.” said Eng. Hani Salem Sonbol, CEO, ITFC.

The ITFC’s share of the Global Bookrunner Islamic Finance was more than 9% per cent on a volume of US$2.04 billion, whilst its share of the Global MLA Islamic Finance market exceeded 6.9%. This places ITFC in the league of major international and regional financial institutions of the World.

 

It is worth mentioning that ITFC since inception had provided more than US$51 billion of trade financing to OIC Member Countries.

 

In 2019, ITFC completed important syndicated deals for several member countries, especially for Egypt, Pakistan, Bangladesh, Turkey, Tunisia, Djibouti and Gambia to support key sectors including, energy, industrials, healthcare, agriculture and others.

ITFC plans to continue and expand the development in its member countries with the help of its dependable investors base.

About the International Islamic Trade Finance Corporation (ITFC)

The International Islamic Trade Finance Corporation (ITFC) is a member of the Islamic Development Bank (IsDB) Group.

It was established with the primary objective of advancing trade among OIC Member Countries, which would ultimately contribute to the overarching goal of improving socioeconomic conditions of the people across the world.

Commencing operations in January 2008, ITFC has since consolidated all trade finance businesses that used to be handled by various windows within the IsDB Group. Earning the A1 rating by Moody’s is a reflection of the Corporation’s creditworthiness and financial strength to responding swiftly to customer needs in a market-driven business environment.

Since 2008, ITFC has provided more than US$51 billion to OIC Member Countries, making it the leading provider of trade solutions for the Member Countries’ needs. With a mission to become a catalyst for trade development for OIC Member Countries and beyond, the Corporation helps entities in Member Countries gain better access to trade finance and provides them with the necessary trade-related capacity building tools, which would enable them to successfully compete in the global market.

 

Source: Thepressradio.com|Ghana|Dickson Boadi