ITFC Strengthens Trade Finance, Private Sector Growth, Regional Cooperation with Member States

The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IsDB) Group, has initiated its participation in the 2026 IsDB Group Annual Meetings in Baku by signing three significant agreements. These deals focus on enhancing trade finance, fostering private sector development, and promoting regional economic cooperation among member states.

ITFC's Chief Executive Officer, Adeeb Yousuf Al Aama, led the delegation in bilateral meetings with representatives from various member countries, including Bangladesh, The Gambia, Guinea, Maldives, Senegal, Somalia, Nigeria, and Tajikistan. Discussions centered on expanding trade finance cooperation, improving access to Shariah-compliant financing, and aligning ITFC's initiatives with national development priorities.

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The new agreement will provide a platform for ITFC to support priority sectors in The Gambia, including energy supply, food security, healthcare, agricultural value chains, and private sector financing through local financial institutions.

A key highlight was the signing of a three-year, $250 million Framework Agreement with The Gambia. This agreement will support critical sectors such as energy supply, food security, healthcare, agricultural value chains, and private sector financing through local financial institutions. The deal follows the successful utilization of a previous five-year agreement of the same value, signed in January 2021.

Additionally, ITFC entered into a $10 million Direct Murabaha Financing Facility with Tajikistan. This facility is designed to support the purchase and trade of cotton and cotton-related products. The funds will provide working capital to stakeholders in the cotton sector, enabling the government's Agency for Export to procure cotton from farmers for subsequent export, thereby bolstering a sector significant to Tajikistan's economy.

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The pilot facility would provide working capital to the cotton sector stakeholders, enabling the Agency for Export under the Government of the Republic of Tajikistan, through processing companies, to procure cotton from farmers during the harvest season for further export, “thus supporting a sector that contributes si