International Islamic Trade Finance Corporation launches LC confirmation facility
Jeddah, KSA, 14 December 2020: The International Islamic Trade Finance Corporation, member of the Islamic Development Bank (IsDB) Group, launched its new standalone LC Confirmation instrument as part of its strategy to expand its private sector interventions.
ITFC’s newly developed LCs Confirmation product is open to SMEs in IsDB member countries wherein exporters can now rely on ITFC’s LCs Confirmation boosting trade volumes in OIC member countries.
Enhancing international trade is crucial for economic development and this role becomes even more critical as countries embark on the recovery phase from the pandemic. The LCs Confirmation product is aimed at managing the increasing risk associated with the pandemic while facilitating trade flow and ensuring the steady supply of essential goods.
Free, in under 30 seconds
Join thousands of professionals reading Salaam Gateway — the Global Islamic Economy Gateway.
Already a member? Sign in
- 5 free articles every month
- Weekly Islamic-economy newsletter
- Save articles to read later
Press Release