ITFC Strengthens Trade Finance and Regional Cooperation at 2026 IsDB Group Annual Meetings
The International Islamic Trade Finance Corporation (ITFC), a key entity within the Islamic Development Bank (IsDB) Group, has commenced its participation in the 2026 IsDB Group Annual Meetings held in Baku, Azerbaijan. This event marks a significant step in fostering trade finance, trade development, and regional economic cooperation among member countries. During the opening day, ITFC announced three strategic agreements aimed at enhancing collaboration in critical sectors.
High-Level Engagements and Strategic Partnerships
Eng. Adeeb Yousuf Al Aama, the Chief Executive Officer of ITFC, led the Corporation’s delegation in a series of bilateral meetings with representatives from several member countries, including Bangladesh, The Gambia, Guinea, Maldives, Senegal, Somalia, and Tajikistan. Discussions centered on expanding trade finance cooperation and improving access to Shariah-compliant financing. The focus was also on aligning ITFC’s initiatives with the national development priorities of these countries.
In addition, ITFC participated in the Halal Economy Leadership Forum 2026. Mr. Nazeem Noordali, ITFC’s Chief Operating Officer, contributed to the Strategic Leadership Dialogue on Ethical Halal Business Models and Risk-Resilient Financing. This session examined how halal economy models and Islamic finance can facilitate regional integration and enhance participation from micro, small, and medium enterprises (MSMEs) in cross-border trade.
Key Agreements and Financial Commitments
The Gambia: US$250 Million Framework Agreement
ITFC has signed a three-year Framework Agreement worth US$250 million with the Republic of The Gambia. This agreement aims to guide the next phase of cooperation following the successful utilization of a previous five-year agreement of the same value, signed in January 2021. The new framework will support vital sectors in The Gambia, including energy supply, food security, healthcare, and agricultural value chains. The signing was conducted by Hon. Seedy K.M. Keita, Minister of Finance and Economic Affairs of The Gambia, and Eng. Adeeb Yousuf Al Aama.
Tajikistan: US$10 Million Direct Murabaha Facility
A separate agreement was established with the Republic of Tajikistan, involving a US$10 million Direct Murabaha Financing Facility. This facility is designed to support the purchase and trade of cotton and related products. The agreement was signed by Eng. Adeeb Yousuf Al Aama and HE. Mr. Hokim Holiqzoda, the First Deputy Prime Minister of Tajikistan. This pilot facility aims to provide working capital to stakeholders in the cotton sector, enabling local processing companies to procure cotton from farmers during the harvest season. This initiative is expected to bolster export activities and improve rural livelihoods.
Regional Collaboration: Confirming Bank Agreement with IFC
In a significant move to enhance trade finance access, ITFC signed a Confirming Bank Agreement with the International Finance Corporation (IFC). This agreement aims to strengthen collaboration between the two institutions to support trade finance across OIC member countries. The partnership will allow ITFC to leverage IFC’s risk-sharing framework and guarantees, thereby enhancing access to trade finance for importers and exporters in these regions. The agreement was signed by Mr. Nazeem Noordali and Mr. Abdullah Jefri, IFC’s GCC Division Director, with Eng. Adeeb Yousuf Al Aama witnessing the signing.
Implications for Regional Trade and Economic Growth
The agreements signed during the 2026 IsDB Group Annual Meetings underscore ITFC’s commitment to enhancing trade finance and regional cooperation. By focusing on Shariah-compliant financing solutions, ITFC is addressing the unique needs of member countries while promoting sustainable economic growth.
The strategic partnerships formed during these meetings are expected to facilitate critical cross-border trade transactions, thereby strengthening economic ties among member countries. The emphasis on sectors such as agriculture, energy, and healthcare reflects a comprehensive approach to addressing the socio-economic challenges faced by these nations.
As ITFC continues to engage with member countries and partners throughout the week, further agreements and initiatives are anticipated. The focus remains on financing essential trade, expanding private sector participation, and enhancing regional connectivity.
Source: www.zawya.com
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