BAKU, Azerbaijan, June 16. The International Islamic Trade Finance Corporation (ITFC) has provided over $95 billion in trade finance to date, Chief Operating Officer at International Islamic Trade Finance Corporation, Nazeem Noordali, said at the 14th IsDB Group Private Sector Forum held in Baku, Trend's correspondent reports from the event.
According to Noordali, ITFC provides a wide range of short-term trade finance instruments, including import-export financing, port finance, warehouse finance, and structured commodity finance.
"We offer virtually the full range of trade finance products available in the market," he noted.
He emphasized that ITFC is a dynamic and open trade finance institution operating within the Islamic Development Bank Group.
According to the official, the corporation was the first multilateral organization to begin providing trade finance in emerging markets, even before other international financial institutions, including the World Bank and the Asian Development Bank, began using similar mechanisms.
"We are proud to have been among the pioneers in trade finance and continue to play an important role in providing development finance, which is essential to supporting trade flows," he added.
