The International Islamic Trade Finance Corporation (ITFC), member of the Islamic Development Bank (IsDB) Group, has launched a new Trade Development Fund (TDFD) with an initial target capital of US$50 million to support trade development projects in member countries of the Organisation of Islamic Cooperation (OIC) and Muslim communities in non-member countries. The Fund is […]
Infor, a global leader in business cloud software specialised by industry, today announced that it is partnering with DBS Bank, Southeast Asia’s largest bank, to integrate digital trade financing capabilities into the Infor Nexus global network of more than 68,000 businesses. The two companies’ first joint programme recently went live with one of the world’s […]
The International Chamber of Commerce’s (ICC) 11th annual Global Survey on Trade Finance reveals that banks are optimistic about the evolving nature of trade finance, though unsurprisingly expect various industry-wide challenges and disruption as a result of the Covid-19 pandemic. The 2020 ICC Global Survey report – recognised as the world’s most authoritative review of […]
Here are the main points addressed in this study (download it here) Coface does not expect the sector to recover to fourth quarter 2019 level before 2022. In Coface’s central scenario, the turnover of listed companies of the global transport sector will be 32% lower in the 4th quarter 2020 and 5% lower in the […]
Aldermore bank welcomes the publication of the All Party Parliamentary Group (APPG) for SME (Small and Medium sized Enterprise) House Builders report on ways to improve the planning system in the UK. The government has a target of delivering 300,000 homes a year to meet the growing demand in the UK. However, the current planning […]
The International Islamic Trade Finance Corporation (ITFC), member of the Islamic Development Bank (IsDB) Group, signed a US$200 million syndicated Murabaha financing agreement with the African Export-Import Bank (Afreximbank), a multilateral financial institution established by African governments and institutional investors. The facility seeks to help African countries address some of the economic impacts of the […]
The global Islamic finance industry will return to slow growth in 2020-2021 after strong performance in 2019 underpinned by a more dynamic sukuk market, S&P Global Ratings said today (see report). “The significant slowdown of core Islamic finance economies in 2020, because of measures implemented by various governments to contain the COVID-19 pandemic, and the […]
The International Islamic Trade Finance Corporation (ITFC), member of the Islamic Development Bank (IsDB) Group, has approved a US$15m Murabaha Financing Facility in favour of City Bank Limited in Bangladesh to support the Bank’s private sector businesses, particularly SMEs importing raw materials from the international markets. City Bank is the latest partner institution to work […]
A holiday company says it is planning for the future and looking forward to welcoming its customers back, thanks to support from Lloyds Bank. Alfa Leisureplex Group has secured a £17m credit facility, including a £5m Coronavirus Business Interruption Loan Scheme (CBILS) loan from Lloyds Bank. The funding will be used to support the business […]
Bibby Financial Services (BFS), has provided an £850,000 funding facility which includes invoice discounting and trade finance to H Bronnley and Co UK Ltd, a luxury soap and fragrance business which exports to partners worldwide. H Bronnley & Co supply a range of high-quality soaps and fragrances, with a rich heritage dating back to 1884. […]
