Latest news with #AdeebAlAama
Leaders
31-07-2025
- Business
- Leaders
ITFC CEO Meets with Egypt's Minister of Planning, Economic Development
Eng. Adeeb Al Aama, Chief Executive Officer of the International Islamic Trade Finance Corporation (ITFC) and a member of the Islamic Development Bank (IsDB) Group, held a meeting yesterday with Egypt's Minister of Planning, Economic Development, and International Cooperation, Dr. Rania Al-Mashat, during his visit to Cairo. The discussion centered on enhancing cooperation in key sectors such as energy and food commodities, along with promoting investment development through the second phase of the Aid for Trade Initiative for Arab States (AfTIAS) program. Both parties underscored the significance of supporting small and medium-sized enterprises (SMEs) and empowering women in trade. They also highlighted the strategic partnership between ITFC and Egypt, which plays a vital role in driving sustainable development and fostering regional integration through the Islamic Development Bank Group's integrated trade solutions. Related Topics : ITFC Participates in Uzbekistan Trade Finance Conference 2025 Saudi Arabia executes a young rape suspect in the Eastern Province Tehran eyes $1 bn of trade with Saudi Arabia: Finance Minister Saudi, U.S. Representatives Hold Economic Discussions Short link : Post Views: 22 Related Stories
Zawya
21-05-2025
- Business
- Zawya
International Islamic Trade Finance Corporation (ITFC) Advances Strategic Partnerships and Intra-OIC Trade at the 2025 Islamic Development Bank (IsDB) Group Annual Meetings
On Day Two of the IsDB Annual Meetings in Algiers, the International Islamic Trade Finance Corporation (ITFC) ( a member of the Islamic Development Bank (IsDB), signed important agreements and engaged in strategic discussions with OIC member countries and various stakeholders. These engagements underscore ITFC's continued commitment to advancing trade, economic cooperation, and sustainable development across the OIC region. The day featured ITFC's participation during the opening ceremony of the Private Sector Forum, which convened global and regional stakeholders under the theme: 'Boosting Intra-OIC Trade and Investment: Overcoming Barriers and Seizing Opportunities.' Eng. Adeeb Y. Al Aama, CEO of ITFC, joined a high-level CEO session where he highlighted key challenges facing OIC countries and shared insights on solutions to scale intra-OIC trade. He emphasized the importance of targeted Islamic trade finance, capacity-building initiatives, and stronger cross-border collaboration to drive sustainable economic growth across the region. The day's proceedings also included a series of high-level meetings with key partners and member countries, including the Government of Pakistan and the Government of Tunisia, the OPEC Fund, Afreximbank, and Saudi EXIM Bank, among others. These meetings focused on advancing collaboration, particularly promoting trade and economic integration and supporting economic resilience and sustainability. Key Signings and Agreements Afreximbank–US$300 million Murabaha Financing This financing is structured to facilitate the import of essential goods, ensuring stable supply chains and supporting trade resilience across the region. The agreement was signed by Eng. Adeeb Yousuf Al-Aama, CEO of ITFC, and Mr. Haytham El Maayergi, Executive Vice President of Afreximbank. This facility is designed to benefit enterprises from key sectors across common member countries in Africa. The facility is also aligned with ITFC's broader mandate to promote regional integration and advance trade-led development among OIC member countries. Commercial Bank of Cameroun (CBC) – EUR 10 million Murabaha Financing Agreement A EUR 10 million Murabaha Financing was signed with Commercial Bank of Cameroun (CBC) to finance essential imports. The financing, signed by Mr. Jean Elise Gouater, Deputy CEO of CBC, and Mr. Nazeem Noordali, COO of ITFC will also support the development of Amana Finance Islamique, CBC's Islamic finance window. Additionally, the signed facility includes an LC confirmation feature and falls under the broader FWA signed with Cameroon in April 2024. Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC). Contact Us: Tel: +966 12 646 8337 Fax: +966 12 637 1064 E-mail: ITFC@
Zawya
20-05-2025
- Business
- Zawya
The International Islamic Trade Finance Corporation (ITFC) Commences 2025 Islamic Development Bank (IsDB) Annual Meetings Focusing on Boosting Intra-Organisation of Islamic Cooperation (OIC) Trade in its Member Countries
The International Islamic Trade Finance Corporation (ITFC) ( member of the Islamic Development Bank (IsDB) Group, embarked on its participation at the 2025 IsDB Group Annual Meetings with signing agreements that signal a renewed drive to scale up trade finance, unlock private sector growth, and deepen regional economic integration. In the lead-up to the signings, Eng. Adeeb Al Aama, CEO of ITFC, led the ITFC delegation in a series of high-level bilateral meetings with governors and delegations from member countries, including Tajikistan, Bangladesh, The Gambia, and Senegal, as well as strategic partners such as Turk Eximbank and Vakif Katilim Bank. These engagements reaffirmed the Corporation's commitment to fostering dialogue-driven partnerships and advancing shared development goals. Discussions focused on expanding trade finance and trade development opportunities, exploring new partnership models, and strengthening bilateral cooperation aligned with ITFC's mandate. Key Signings Senegal: EUR 2 billion Framework Agreement to Power Key Sectors ITFC signed a five-year Framework Agreement with the Republic of Senegal valued at EUR 2 billion. Signed by H.E. Dr. Abdourahmane Sarr, Minister of Economy, Planning and Cooperation and Governor of IsDB, and Eng. Adeeb Y. Al Aama, CEO of ITFC, the agreement will provide financing support across vital sectors such as energy procurement, agriculture, healthcare, and private sector development, helping to promote sustainable job creation. Uzbekistan: Expanding Private Sector Access to Islamic Financing with AgroBank and Smartbank ITFC signed two agreements with its long-standing partner in Uzbekistan to expand Islamic trade financing solutions for the country's private sector. The first agreement is a US$10 million Mudaraba Financing Agreement with JSCB Smartbank, a subsidiary of JSCB AgroBank, in addition to the second agreement to increase the amount of Line of Finance Facility to US$ 25 million. These agreements reflect the growing demand for Sharia-compliant products in Uzbekistan and lay the groundwork for future cooperation in treasury and liquidity management services. Held at the Abdelatif Rahal International Conference Center in Algiers, the opening day of the IsDB Annual Meetings has set the stage for an ambitious and action-oriented week. ITFC's participation is already sparking meaningful dialogue on the future of trade financing and trade development across the member countries, addressing critical sectors such as food security, energy access, SME growth, and the expansion of digital trade. With several additional agreements and high-level engagements anticipated in the coming days, ITFC continues to strengthen its role as a catalyst for sustainable economic transformation. Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC). Social Media: Twitter: @ ITFCCORP Facebook: @ ITFCCorp LinkedIn: International Islamic Trade Finance Corporation (ITFC) ( About the International Trade Finance Corporation (ITFC): The International Islamic Trade Finance Corporation (ITFC) is the trade finance arm 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 the socio-economic conditions of the people across the world. Commencing operations in January 2008, ITFC has provided more than US$83 billion of financing to OIC member countries, making it the leading provider of trade solutions for these 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.
