WHO WE ARE The International Islamic Trade Finance Corporation (ITFC) is a customer needs in a market-driven business environment.
Message from the CEO
Since its inception in 2008, ITFC as a member of the Islamic Development Bank Group (IDBG), has been dedicated to serve its member countries, by all means possible, to enhance the lives of its people, create better opportunities, and creats innovative financing solutions to pave the road to a promising future. This occurs in an evolving world where new technologies bring major changes to our daily lives and business, where disruptive actors enter markets and become fierce competition for established players, and where common and global challenges emerge. ITFC Roadmap wants to build upon what the Strategy emphasizes as the next steps to follow: - Rapidly identify new trends, risks and opportunities, - to identify and resolve internal barriers that are hindering innovation to take place in our Group, - to think of a place where we can design and test innovations, - to engage with emerging disruptors.
ITFC’s 10-year Strategy is built on several layers of directions and objectives. As a multi-dimensional principle, innovation irrigates/provide all layers and can bring added value in the various steps of our organization’s new strategy. By mainstreaming disruptive spirit and innovative skills, ITFC will be able to deliver better results in achieving its Three Strategic Objectives, Expand Intra-OIC Trade, Growth in Islamic Trade Finance, and Diversification of Member Countries’ Economies. Furthermore, ITFC’s regional presence and innovation initiative will make it indeed possible to tap into deeper resources, accelerating the design of new integrated products responding more adequately to the regional challenges and strengthening the strategic relations with our Member Countries where partnerships with noteworthy disruptors will be of great impact.
member of the Islamic Development Bank (IsDB) Group. It was established with the purpose 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. Commenced operations in January 2008 (Muharram 1429H), 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 reflects the Corporation’s efficiency in service delivery by responding swiftly to
Since 2008, ITFC has provided more than US$40.2 billion of trade financing to OIC Member Countries, making the Corporation the leading provider of trade solutions for OIC Member Countries’ needs. With a mission of being a catalyst for trade development among 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.
VISION ITFC is the leading provider of trade solutions for OIC Member Countries' needs MISSION ITFC is a catalyst for trade development among OIC Member Countries and beyond
Eng. Hani Salem Sonbol, CEO, ITFC
Moody's assigns first-time issuer rating of A1/P-1 to the International Islamic Trade Finance Corporation, Outlook Stable
Moody's assigns first-time issuer rating of A1/P-1 to the International Islamic Trade Finance Corporation , Outlook Stable
Moody's Investors Service announced it has assigned a first-time long-term issuer rating of A1 and short-term issuer rating of P-1 to the International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank Group (IsDB). The outlook on the rating is stable, according to Moody's press release dated October 26, 2017. According to Moody’s, “The ITFC's credit profile benefits from significant capital buffers, balanced by high concentration levels and a track record of legacy non-performing assets, albeit with the prospect of significant recoveries in the future. The corporation benefits from prudent treasury investment practices and adequate liquidity management policies, and from strong implicit member support in the absence of contractual support via callable capital.”
“The outlook for ITFC's rating is stable, reflecting Moody's expectation that the corporation's leveraging of the balance sheet will remain contained and that the formation of new non-per- forming assets will remain muted and in line with other trade finance institutions in Moody's rated MDB universe, while the main legacy exposures are being recovered or written off”, said the announcement. Chief Executive Officer, ITFC Eng. Hani Salem Sonbol welcomed the A1/P-1 rating by Moody's and said “This investment grade rating assigned to ITFC by Moody’s denotes the corporation’s financial strength and fits well with our strategy to diversify our funding sources, increase our footprint in member countries and better serve our clients. This rating will make ITFC stronger and more impactful in the pursuit of our core mission – ‘advancing trade, improving lives’."
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