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International Islamic Trade Finance Corporation (ITFC)
The International Islamic Trade Finance Corporation (ITFC) commenced operations on 1st of Muharram 1429H (January 10, 2008G), with an authorized Capital of $3 billion of which $750 million were issued for subscription.
As an affiliate of the Islamic Development Bank Group (IDB), the ITFC was formed to merge the trade finance business that was formerly undertaken by various windows within the IDB Group. This consolidation under a single umbrella increased the efficiency of service delivery and enabled the ITFC to rapidly respond to customers’ needs in a market-driven business environment. A rich heritage that spans more than 30 years in trade finance by the IDB Group, puts ITFC in a leadership position in fostering socio economic development, setting new benchmarks in ethical trade financing and developing innovative Shariah-compliant solutions.
Operating to world-class standards, the ITFC’s mission is clear from its mandate to promote the IDB Group’s developmental objectives by being a catalyst for the development of trade among OIC Member Countries and with the rest of the world and aspires to be a recognized provider of trade solutions for the OIC member countries’ needs; in order to fulfill its brand promise of advancing Trade, Improving Lives.