ITFC sup­ports ICDT ef­forts to pro­mote trade and in­vest­ment op­por­tu­ni­ties

Arab News - - CORPORATE PR -

The In­ter­na­tional Is­lamic Trade Fi­nance Cor­po­ra­tion (ITFC) took part in the 35th board meet­ing of the Is­lamic Cen­ter for De­vel­op­ment of Trade (ICDT) to review all the ini­tia­tives that have been im­ple­mented in the pre­vi­ous year and dis­cuss fu­ture plans aimed at de­vel­op­ing trade among mem­ber states.

ITFC’s par­tic­i­pa­tion in the event was un­der the pa­tron­age of the Sec­re­tary-Gen­eral of the Or­ga­ni­za­tion of Is­lamic Co­op­er­a­tion (OIC), Yousef Al-Othaimeen.

The open­ing ses­sion held on March 7 in Casablanca, Morocco was at­tended by Hameed Opeloyeru, as­sis­tant sec­re­tary-gen­eral for eco­nomic af­fairs of the OIC; and Rakiya Ed­darhem, sec­re­tary of state in charge of for­eign trade at in­vest­ment, trade and dig­i­tal econ­omy, Moroc­can Min­istry of In­dus­try, In­vest­ment, Trade and Dig­i­tal Econ­omy.

Key­note speeches were de­liv­ered by Hani Salem Son­bol, CEO of ITFC, and El-Has­sane Hzaine, di­rec­tor­gen­eral of ICDT.

Son­bol praised the ICDT’s con­tri­bu­tion to sup­port­ing de­vel­op­ment in Is­lamic coun­tries. He also re­viewed the co­op­er­a­tion be­tween the ITFC and ICDT since its in­cep­tion in 2008.

He said that ITFC is al­ways com­mit­ted to sup­port­ing ex­port and trade fi­nance ini­tia­tives serv­ing its mem­ber states.

He also high­lighted the mo­men­tum gained by ITFC’s ini­tia­tives since it was launched in 2008.

“To reach the OIC Ten-Year Plan of Ac­tion, ITFC has en­gaged in all ini­tia­tives in sup­port of this ob­jec­tive, start­ing from the an­nual co­or­di­na­tion meet­ing be­tween the OIC in­sti­tu­tions, which is or­ga­nized pe­ri­od­i­cally in De­cem­ber each year. It also con­trib­utes to the ac­tiv­i­ties of the Trade and In­vest­ment Sub­com­mit­tee (TISC), which is over­seen by the Is­lamic Cen­ter for Trade De­vel­op­ment,” Son­bol said.

He added: “Since 2016, ITFC has been pur­su­ing a new strat­egy based on in­te­grat­ing its fi­nanc­ing and de­vel­op­ment arms to pro­vide in­te­grated trade so­lu­tions and to bring about a sig­nif­i­cant de­vel­op­ment im­pact and thereby ben­e­fit our mem­ber coun­tries more from the pro­grams and projects that are be­ing im­ple­mented for them. There­fore, ITFC has been keen to de­sign and launch ini­tia­tives with re­gional and in­ter­na­tional di­men­sions to achieve the de­sired im­pact on in­ter-trade.”

Hzaine, the direc­tor gen­eral of ICDT, high­lighted the strong role ITFC is play­ing in the in­ter­na­tional trade in­dus­try, no­tably the Arab Africa Trade Bridges (AATB) and Aid for Trade Ini­tia­tive for Arab States (AfTIAS) pro­grams.

The 35th board meet­ing of the Is­lamic Cen­ter for De­vel­op­ment of Trade (ICDT) was re­cently held in Casablanca, Morocco.

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