• Education
    • Higher Education
    • Scholarships & Grants
    • Online Learning
    • School Reforms
    • Research & Innovation
  • Lifestyle
    • Travel
    • Food & Drink
    • Fashion & Beauty
    • Home & Living
    • Relationships & Family
  • Technology & Startups
    • Software & Apps
    • Startup Success Stories
    • Startups & Innovations
    • Tech Regulations
    • Venture Capital
    • Artificial Intelligence
    • Cybersecurity
    • Emerging Technologies
    • Gadgets & Devices
    • Industry Analysis
  • About us
  • Contact
  • Advertise with Us
  • Privacy & Policy
Today Headline
  • Home
  • World News
    • Us & Canada
    • Europe
    • Asia
    • Africa
    • Middle East
  • Politics
    • Elections
    • Political Parties
    • Government Policies
    • International Relations
    • Legislative News
  • Business & Finance
    • Market Trends
    • Stock Market
    • Entrepreneurship
    • Corporate News
    • Economic Policies
  • Science & Environment
    • Space Exploration
    • Climate Change
    • Wildlife & Conservation
    • Environmental Policies
    • Medical Research
  • Health
    • Public Health
    • Mental Health
    • Medical Breakthroughs
    • Fitness & Nutrition
    • Pandemic Updates
  • Sports
    • Football
    • Basketball
    • Tennis
    • Olympics
    • Motorsport
  • Entertainment
    • Movies
    • Music
    • TV & Streaming
    • Celebrity News
    • Awards & Festivals
  • Crime & Justice
    • Court Cases
    • Cybercrime
    • Policing
    • Criminal Investigations
    • Legal Reforms
No Result
View All Result
  • Home
  • World News
    • Us & Canada
    • Europe
    • Asia
    • Africa
    • Middle East
  • Politics
    • Elections
    • Political Parties
    • Government Policies
    • International Relations
    • Legislative News
  • Business & Finance
    • Market Trends
    • Stock Market
    • Entrepreneurship
    • Corporate News
    • Economic Policies
  • Science & Environment
    • Space Exploration
    • Climate Change
    • Wildlife & Conservation
    • Environmental Policies
    • Medical Research
  • Health
    • Public Health
    • Mental Health
    • Medical Breakthroughs
    • Fitness & Nutrition
    • Pandemic Updates
  • Sports
    • Football
    • Basketball
    • Tennis
    • Olympics
    • Motorsport
  • Entertainment
    • Movies
    • Music
    • TV & Streaming
    • Celebrity News
    • Awards & Festivals
  • Crime & Justice
    • Court Cases
    • Cybercrime
    • Policing
    • Criminal Investigations
    • Legal Reforms
No Result
View All Result
Today Headline
No Result
View All Result
Home World News Middle East

International Islamic Trade Finance Corporation (ITFC)’s 2024 Annual Report Highlights Record Trade Support, Empowering Organisation of Islamic Cooperation (OIC) Economies and Expanding Global Impact

June 4, 2025
in Middle East
Reading Time: 4 mins read
A A
0
2
SHARES
4
VIEWS
Share on FacebookShare on Twitter


The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, is proud to announce the release of its 2024 Annual Report, titled “Reaching New Frontiers.” The report captures a landmark year showcasing a period of transformative growth, expanded geographic reach, record trade finance approvals, and strengthened commitments to sustainable and inclusive development across its Member Countries.  

In 2024, ITFC demonstrated agility and resilience amidst persistent geopolitical and economic challenges, prioritizing trade finance, facilitation, and trade development to support member countries’ national development agendas. 

Highlights from the 2024 Annual Report 

Record Trade Finance Approvals 

  • In 2024, ITFC approved a total of US$ 7.3 billion in trade finance across 110 operations in 26 countries. Of this amount, US$ 6.7 billion was successfully disbursed 
  • Notably, 38% of the approved financing was directed toward Least Developed Member Countries (LDMCs), underscoring ITFC’s commitment to inclusive development 
  • Furthermore, 41% of the total portfolio, equivalent to US$ 3 billion, was allocated to non-energy sectors such as agriculture, healthcare, and financial services 
  • ITFC successfully mobilized US$ 4.2 billion through Islamic syndications in 2024, representing 57% of its total trade finance approvals. 

Accelerating Intra-OIC Trade 

  • A total of US$ 4.85 billion was dedicated to promoting trade among OIC member countries, marking a 6.5% increase compared to 2023 
  • These intra-OIC trade approvals accounted for 67% of ITFC’s total trade finance operations, reinforcing the Corporation’s role in fostering regional economic integration and cooperation 

Strengthening the Private Sector 

  • In a continued effort to support private sector growth, ITFC provided US$ 1.2 billion in financing, reflecting a 14% increase over the previous year 
  • This support reached 47 financial institutions and included engagements with 19 new clients across Africa, the Middle East, and Central Asia 

Delivering on Food Security Commitments 

  • To address food insecurity, ITFC approved US$ 1.75 billion in financing for agriculture and food-related operations across 10 OIC countries  
  • Since the launch of the IsDB Group’s Food Security Response Program (FSRP) in 2022, ITFC has mobilized US$ 4.73 billion in food security financing, exceeding its initial commitment of US$ 4.5 billion. 
  • ITFC financing has helped Member Countries secure stable supplies of essential food commodities, reduce price volatility, and support agricultural resilience. 
  • In Tajikistan alone, ITFC’s food security financing contributed to reaching over 200,000 households—benefiting nearly 900,000 individuals—by ensuring access to staple goods such as wheat, sugar, and edible oil. 

Sustainability Milestone 

  • ITFC launched its first Environmental and Social (E&S) Policy in October 2024 
  • The policy rollout included a 10-year E&S action plan, a 5-year carbon reduction strategy, and strengthened governance to embed ESG principles across all operations 

The report also highlights that the Corporation was ranked at the top as Mandated Lead Arranger and Bookrunner in global Islamic syndications by both Refinitiv and Bloomberg, a reflection of its global leadership and strong investor confidence.  

Additionally, the 2024 Annual Report spotlights the achievements of ITFC’s flagship programs: 

  • The Arab Africa Trade Bridges (AATB) Program actively supported the development of regional value chains by hosting targeted B2B meetings and launching Africa’s first textile and leather standards program, paving the way for improved quality and competitiveness across the continent 
  • The Aid for Trade Initiative for the Arab States (AfTIAS 2.0) Program saw the implementation progress on 21 ongoing projects across Arab States, with a strategic focus on job creation, trade facilitation, and export development. These initiatives continue to empower local economies and enhance regional trade capacity 
  • Trade Connect Central Asia+ (TCCA+): ITFC advanced regional integration among six Central Asian countries through projects that promote agri-business development, investment attraction, and food security, strengthening economic ties and resilience in the region 
  • The Global SMEs Program expanded its footprint in West Africa and officially launched in Cameroon, enhancing access to trade finance and advisory services for small and medium-sized enterprises and fostering inclusive economic growth 

In addition to its flagship programs, ITFC delivered a diverse range of integrated trade solutions and targeted interventions in 2024 that reflect its holistic development approach. Through tailored capacity-building programs, reverse linkage initiatives, and trade facilitation tools, ITFC addressed specific needs across sectors such as energy, agriculture, finance, and trade policy. Highlights include the Indonesian Coffee Export Development Program enhancing sustainable farming practices; capacity-building workshops on Islamic finance in Nigeria, Tajikistan, and Azerbaijan; technical support to Togo and Mali’s electricity sectors; and the rollout of electronic Certificates of Origin to boost cross-border trade in West Africa.  

With an eye on the future, ITFC remains steadfast in its commitment to addressing the evolving priorities of its Member Countries. By driving innovation, strengthening strategic partnerships, and delivering high-impact trade finance solutions, the Corporation is poised to chart new frontiers and accelerate progress toward sustainable and inclusive development across the OIC region. 

Read the full English version here- https://apo-opa.co/3T78A0R 

Read the full Arabic version here- https://apo-opa.co/3FMasch

Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).

Contact Us:
Tel: +966 12 646 8337  
Fax: +966 12 637 1064  
E-mail: [email protected]   

Social Media:
Twitter: @ITFCCORP  
Facebook: @ITFCCorp  
LinkedIn: International Islamic Trade Finance Corporation (ITFC) (https://apo-opa.co/4kruIiL)

About the International Trade Finance Corporation (ITFC) :
The International Islamic Trade Finance Corporation (ITFC) is the trade finance arm of the Islamic Development Bank (IsDB) Group. It was established with the primary objective of advancing trade among OIC member countries, which would ultimately contribute to the overarching goal of improving the socio-economic conditions of the people across the world. Commencing operations in January 2008, ITFC has provided more than US$83 billion of financing to OIC member countries, making it the leading provider of trade solutions for these member countries’ needs. With a mission to become a catalyst for trade development for 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.  

Tags: Africa
Previous Post

What happens next in Scott McLaughlin-Tony Kanaan spat?

Next Post

Pickering: Elderly woman randomly stabbed in Ontario identified

Related Posts

McNally Capital linked to Gaza aid distribution org. GHF

McNally Capital linked to Gaza aid distribution org. GHF

June 6, 2025
4
Israel Museum launches 60th year with live 'One Night' event

Israel Museum launches 60th year with live ‘One Night’ event

June 6, 2025
4
Next Post

Pickering: Elderly woman randomly stabbed in Ontario identified

  • Trending
  • Comments
  • Latest
Family calls for change after B.C. nurse dies by suicide after attacks on the job

Family calls for change after B.C. nurse dies by suicide after attacks on the job

April 2, 2025
Pioneering 3D printing project shares successes

Product reduces TPH levels to non-hazardous status

November 27, 2024

Hospital Mergers Fail to Deliver Better Care or Lower Costs, Study Finds todayheadline

December 31, 2024

Police ID man who died after Corso Italia fight

December 23, 2024
Harris tells supporters 'never give up' and urges peaceful transfer of power

Harris tells supporters ‘never give up’ and urges peaceful transfer of power

0
Des Moines Man Accused Of Shooting Ex-Girlfriend's Mother

Des Moines Man Accused Of Shooting Ex-Girlfriend’s Mother

0

Trump ‘looks forward’ to White House meeting with Biden

0
Catholic voters were critical to Donald Trump’s blowout victory: ‘Harris snubbed us’

Catholic voters were critical to Donald Trump’s blowout victory: ‘Harris snubbed us’

0
McNally Capital linked to Gaza aid distribution org. GHF

McNally Capital linked to Gaza aid distribution org. GHF

June 6, 2025
Walmart is selling a 'comfortable' $1,260 7-piece patio set for just $400, and shoppers say it's 'ideal for relaxation'

Walmart is selling a 'comfortable' $1,260 7-piece patio set for just $400, and shoppers say it's 'ideal for relaxation' todayheadline

June 6, 2025

Taiwan stocks higher at close of trade; Taiwan Weighted up 2.32% todayheadline

June 6, 2025
ET logo

Trump no longer Mr Nice Guy for Elon Musk! The war of words that blew $150 billion off Tesla’s worth todayheadline

June 6, 2025

Recent News

McNally Capital linked to Gaza aid distribution org. GHF

McNally Capital linked to Gaza aid distribution org. GHF

June 6, 2025
4
Walmart is selling a 'comfortable' $1,260 7-piece patio set for just $400, and shoppers say it's 'ideal for relaxation'

Walmart is selling a 'comfortable' $1,260 7-piece patio set for just $400, and shoppers say it's 'ideal for relaxation' todayheadline

June 6, 2025
5

Taiwan stocks higher at close of trade; Taiwan Weighted up 2.32% todayheadline

June 6, 2025
7
ET logo

Trump no longer Mr Nice Guy for Elon Musk! The war of words that blew $150 billion off Tesla’s worth todayheadline

June 6, 2025
7

TodayHeadline is a dynamic news website dedicated to delivering up-to-date and comprehensive news coverage from around the globe.

Follow Us

Browse by Category

  • Africa
  • Asia
  • Basketball
  • Business & Finance
  • Climate Change
  • Crime & Justice
  • Cybersecurity
  • Economic Policies
  • Elections
  • Entertainment
  • Entrepreneurship
  • Environmental Policies
  • Europe
  • Football
  • Gadgets & Devices
  • Health
  • Medical Research
  • Mental Health
  • Middle East
  • Motorsport
  • Olympics
  • Politics
  • Public Health
  • Relationships & Family
  • Science & Environment
  • Software & Apps
  • Space Exploration
  • Sports
  • Stock Market
  • Technology & Startups
  • Tennis
  • Travel
  • Uncategorized
  • Us & Canada
  • Wildlife & Conservation
  • World News

Recent News

McNally Capital linked to Gaza aid distribution org. GHF

McNally Capital linked to Gaza aid distribution org. GHF

June 6, 2025
Walmart is selling a 'comfortable' $1,260 7-piece patio set for just $400, and shoppers say it's 'ideal for relaxation'

Walmart is selling a 'comfortable' $1,260 7-piece patio set for just $400, and shoppers say it's 'ideal for relaxation' todayheadline

June 6, 2025
  • Education
  • Lifestyle
  • Technology & Startups
  • About us
  • Contact
  • Advertise with Us
  • Privacy & Policy

© 2024 Todayheadline.co

Welcome Back!

OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Business & Finance
  • Corporate News
  • Economic Policies
  • Entrepreneurship
  • Market Trends
  • Crime & Justice
  • Court Cases
  • Criminal Investigations
  • Cybercrime
  • Legal Reforms
  • Policing
  • Education
  • Higher Education
  • Online Learning
  • Entertainment
  • Awards & Festivals
  • Celebrity News
  • Movies
  • Music
  • Health
  • Fitness & Nutrition
  • Medical Breakthroughs
  • Mental Health
  • Pandemic Updates
  • Lifestyle
  • Fashion & Beauty
  • Food & Drink
  • Home & Living
  • Politics
  • Elections
  • Government Policies
  • International Relations
  • Legislative News
  • Political Parties
  • Africa
  • Asia
  • Europe
  • Middle East
  • Artificial Intelligence
  • Cybersecurity
  • Emerging Technologies
  • Gadgets & Devices
  • Industry Analysis
  • Basketball
  • Football
  • Motorsport
  • Olympics
  • Climate Change
  • Environmental Policies
  • Medical Research
  • Science & Environment
  • Space Exploration
  • Wildlife & Conservation
  • Sports
  • Tennis
  • Technology & Startups
  • Software & Apps
  • Startup Success Stories
  • Startups & Innovations
  • Tech Regulations
  • Venture Capital
  • Uncategorized
  • World News
  • Us & Canada
  • Public Health
  • Relationships & Family
  • Travel
  • Research & Innovation
  • Scholarships & Grants
  • School Reforms
  • Stock Market
  • TV & Streaming
  • Advertise with Us
  • Privacy & Policy
  • About us
  • Contact

© 2024 Todayheadline.co