The International Islamic Trade Finance Corporation (ITFC) Extends US$ 40 million with Vakif Katilim Bank and Ziraat Katilim Bank and to Support the Private Sector in Türkiye

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The Worldwide Islamic Commerce Finance Company (ITFC) (http://www.ITFC-idb.org), member of the Islamic Improvement Financial institution (IsDB) Group, announce the signing of two important Murabaha Financing Agreements with Vakif Katilim Financial institution and Ziraat Katilim Financial institution, valued at USD 20 million every. The agreements had been formalized throughout the go to of Eng. Hani Salem Sonbol, CEO of ITFC, to Istanbul throughout the COMCEC Conferences on December 4, 2023.

The Murabaha Settlement between ITFC and Vakif Katilim Financial institution was signed by Mr. Mehmet Ali Akben, CEO of Vakif Katilim Financial institution, and Eng. Hani Salem Sonbol, CEO of ITFC. Equally, Mr. Metin ÖZDEMİR, CEO of Ziraat Katilim Financial institution, and Eng. Hani Salem Sonbol, CEO of ITFC, represented their establishments in signing the Murabaha Financing Settlement. These partnerships mark a milestone as Vakif Katilim Financial institution and Ziraat Katilim Financial institution turn out to be new associate banks for ITFC in Türkiye.

The allotted USD 40 million shall be utilized to help the personal sector and SME shoppers of Ziraat Katilim Financial institution and Vakif Katilim Financial institution in assembly their commerce financing wants. The collaboration goals to bolster the expansion of the personal sector and SMEs in Türkiye by way of the availability of Sharia-compliant Murabaha financing.

Eng. Hani Salem Sonbol, CEO of ITFC, expressed enthusiasm in regards to the partnerships, stating, “These agreements signify a major step in the direction of strengthening commerce and financial actions in Türkiye. We’re assured that our collaboration with Ziraat Katilim Financial institution and Vakif Katilim Financial institution will play a vital position in fostering sustainable growth and prosperity for the personal sector and SMEs within the area.”

ITFC seems to be ahead to a fruitful partnership with each Ziraat Katilim Financial institution and Vakif Katilim Financial institution, because the organizations collectively work in the direction of supporting the expansion and success of Türkiye’s personal sector and SMEs by way of Islamic finance options.

Distributed by APO Group on behalf of Worldwide Islamic Commerce Finance Company (ITFC).

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In regards to the Worldwide Islamic Commerce Finance Company (ITFC):
The Worldwide Islamic Commerce Finance Company (ITFC) is a member of the Islamic Improvement Financial institution (IsDB) Group. It was established with the first goal of advancing commerce amongst OIC member international locations, which might finally contribute to the overarching aim of bettering socioeconomic situations of the folks internationally. Commencing operations in January 2008, ITFC has offered over USD 70 billion of financing to OIC member international locations, making it the main supplier of commerce options for these member international locations’ wants. With a mission to turn out to be a catalyst for commerce growth for OIC member international locations and past, the Company helps entities in member international locations achieve higher entry to commerce finance and supplies them with the required trade-related capability constructing instruments, which might allow them to efficiently compete within the international market.



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