The ITFC’s trade finance division is responsible for providing shariah-compliant trade financing for OIC member countries, with a particular focus on financing intra-trade between member countries.
The ITFC provides direct financing or cooperates with other fund providers to support OIC trade and intra-trade.
As a member of the IDB Group, the ITFC has unique access to governments around the world and acts as a facilitator in mobilizing private and public resources to build and develop intra-trade.
In addition to trade financing, the ITFC offers advisory services to member institutions and countries and their public and private enterprises on developmental policies and practices in accordance with IDB Group objectives.
In this way, ITFC’s intra-trade finance serve as a catalyst for economic solidarity by establishing new trade links with member countries, creating an environment that is conducive to on-going, direct trade relationships, and strengthens corresponding banking networks among member countries.
The ITFC is able to streamline the trade financing process by confirming letters of credit to eliminate the need for using intermediary banks. The ITFC also aims to reduce trade costs by removing intermediaries that re-sell goods at higher prices, thus allowing importers to find a better price for their goods.
By offering an alternative financing option, the ITFC contributes to the reduction of financing costs for public and private sector enterprises in member countries.
The ITFC’s sustained commitment to competitive financing and its active participation in the growth of private sector enterprise in OIC member countries has the affect of building national trade capacities.
By acting as lender of record for banks and countries unable to mobilize resources and supporting local trade finance in countries where this has not existed before, the ITFC plays an important role in supporting economic growth.
The ITFC brings a thirty-year heritage of success in trade finance into an efficient, market-driven corporation committed to building commercial cross border trade that supports human development and economic and social welfare in the Muslim world.