The International Islamic Trade Finance Corporation (ITFC), a key member of the Islamic Development Bank (IsDB), made significant advancements in trade finance and economic cooperation during the second day of the 2025 IsDB Group Annual Meetings held in Algiers.
The event showcased ITFC’s continued commitment to boosting intra-OIC trade, promoting sustainable development, and supporting economic resilience across the OIC region.
ITFC CEO Adeeb Y. Al Aama participated in 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'.
During a high-level CEO session, Al Aama highlighted the key challenges faced by OIC countries in expanding trade and economic integration. He emphasised the need for targeted Islamic trade finance, robust capacity-building initiatives, and stronger cross-border collaboration to foster long-term growth and development.
In addition to the forum, ITFC held a series of important meetings with key partners and member countries, including the governments of Pakistan and Tunisia, the OPEC Fund, Afreximbank, and Saudi EXIM Bank. These discussions centered around advancing economic cooperation, promoting trade integration, and supporting the region’s economic sustainability and resilience.
During the session, several major financing agreements have been signed. Afreximbank Murabaha Financing Agreement, valued $300 million, was one of them. 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 Adeeb Yousuf Al-Aama and Haytham El Maayergi, the 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.
ITFC also secured a 10 million euro murabaha financing agreement with Commercial Bank of Cameroon to support the importation of essential goods. This agreement also includes a feature to confirm letters of credit (LCs) and supports the development of CBC’s Islamic finance arm, Amana Finance Islamique. The deal builds upon an existing framework agreement signed in April 2024 between ITFC and Cameroon.
