ITFC increases trade activity in Egypt

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01 July 2010

The Islamic Trade Finance Corporation (ITFC) has increased its activities in Egypt by 138% over 2009 in just the first six months of this year, while also furthering its work with Saudi Export Program.

The International Islamic Trade Finance Corporation (ITFC), an autonomous part of the Islamic Development Bank (IsDB), has arranged a series of trade finance facilities totalling $358 million for the energy sector in Egypt. This marks an increase of more than 138% over 2009’s figures which saw a total of $150 million trade finance operations for Egypt.

Commenting on the overall volume of the ITFC's trade finance operations for Egypt Dr Waheeb Al Wohaib, ITFC CEO, says: "Since the start of 2010 the ITFC has approved $358 million in trade finance operations which has not...

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