ITFC Strengthens Trade Finance Cooperation at 2026 IsDB Group Annual Meetings in Baku
The International Islamic Trade Finance Corporation (ITFC), a key member of the Islamic Development Bank (IsDB) Group, commenced its participation at the 2026 IsDB Group Annual Meetings in Baku, Azerbaijan, by signing three significant agreements. These agreements aim to enhance collaboration in trade finance, trade development, private sector growth, and regional economic cooperation.
Eng. Adeeb Yousuf Al Aama, the Chief Executive Officer of ITFC, led a delegation that engaged in bilateral discussions with representatives from member countries, including Bangladesh, The Gambia, Guinea, Maldives, Senegal, Somalia, and Tajikistan. The meetings also included partners such as Vakif Katilim Bank and Turk Eximbank. The primary focus of these discussions was to expand trade finance cooperation, improve access to Shariah-compliant financing, and align ITFC’s initiatives with national development priorities.
Participation in the Halal Economy Leadership Forum
ITFC also took part in the Halal Economy Leadership Forum 2026. During this event, Mr. Nazeem Noordali, ITFC’s Chief Operating Officer, participated in a Strategic Leadership Dialogue centered on Ethical Halal Business Models and Risk-Resilient Financing. The session examined how halal economy models, Islamic finance, and risk-sharing mechanisms can facilitate regional integration, support micro, small, and medium enterprises (MSMEs), and enhance cross-border trade among member nations.
Key Agreements Signed
The Gambia: US$250 Million Framework Agreement
ITFC signed a three-year Framework Agreement worth US$250 million with the Republic of The Gambia. This agreement is intended to guide the next phase of cooperation following the successful completion of a previous five-year agreement signed in January 2021. The new framework will enable ITFC to support critical sectors in The Gambia, including energy supply, food security, healthcare, agricultural value chains, and private sector financing through local financial institutions. The agreement was formalized 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 US$10 million Direct Murabaha Financing Facility was established between ITFC and the Republic of Tajikistan to bolster the purchase and trade of cotton and related products. This agreement was signed by Eng. Adeeb Yousuf Al Aama and HE Mr. Hokim Holiqzoda, the First Deputy Prime Minister of Tajikistan. The facility aims to provide working capital to stakeholders in the cotton sector, enabling the Agency for Export under the Tajik government to procure cotton from farmers during the harvest season for export. This initiative is expected to strengthen market linkages and sustain income-generating activities for approximately 680,000 individuals engaged in cotton production across 37,000 farms in Tajikistan.
Regional Cooperation: Confirming Bank Agreement with IFC
ITFC also signed a Confirming Bank Agreement with the International Finance Corporation (IFC). This agreement represents a significant step in enhancing collaboration to support trade finance across member countries of the Organization of Islamic Cooperation (OIC). 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. This partnership will enable ITFC to leverage IFC’s risk-sharing framework and guarantees, thereby expanding trade finance operations and enhancing access for importers and exporters in OIC member countries.
Focus on Trade Finance and Development
The opening day of ITFC’s Annual Meetings program emphasized the importance of trade finance, trade development, and Islamic finance. As the week progresses, further agreements and high-level engagements are anticipated as ITFC continues to collaborate with member countries and partners to finance essential trade initiatives, promote private sector participation, and enhance regional connectivity.
Source: www.zawya.com
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About the International Islamic Trade Finance Corporation (ITFC):
The ITFC serves as the trade finance arm of the Islamic Development Bank (IsDB) Group, established to enhance trade among OIC member countries. Since its inception in January 2008, ITFC has provided over US$96 billion in financing to member countries, positioning itself as a leading provider of trade solutions. The organization aims to facilitate better access to trade finance and equip entities in member countries with the necessary tools to compete in the global market.
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Published on 2026-06-16 23:57:00 • By the Editorial Desk
