Award Celebrates ITFC’s Outstanding Commitment to Equitable Financing
JEDDAH, Kingdom of Saudi Arabia: Trade Finance Global (TFG), the leading trade finance platform, has selected the International Islamic Trade Finance Corporation (ITFC) (www.ITFC-idb.org), a member of the Islamic Development Bank Group, as the ‘Best Islamic Financier of the Year’ 2022. The awards ceremony held in collaboration with the Bankers Association for Finance and Trade took place on May 4th during the BAFT Global Annual Meetings in Washington, USA. In attendance at the Awards Ceremony and Annual Meetings were industry leaders and stakeholders in the global finance and trade sectors.
The TFG International Trade Awards, which is in its sixth edition, recognizes industry players who have provided an outstanding contribution to global trade and finance. The awards are presented to businesses and service providers in trade, supply chain, and receivables finance. It serves as a recognition to award winners’ and the Awards logo is used as a badge of excellence in both the intermediary (B2B) and direct (B2C) markets.
ITFC’s underlying approach of working closely with key government, public and private sector institutions in Member Countries to meet their strategic national development objectives afforded it the agility to act fast and repurpose financing engagements to ensure the movement of critical goods and commodities, particularly medical supplies and pharmaceuticals, staple foods, and energy-related products such as fuel.
Accordingly, in 2021 the cumulative trade finance approvals grew to US$61.41 billion, with trade support extended to the critical sectors of Health, Energy, Agriculture, and SMEs, among others. This reflects ITFC’s crucial role as a catalyst of trade development in OIC Member Countries.