The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IsDB) Group, ranked 2nd globally and as well in Europe, Middle East and Africa’s (EMEA) Islamic Finance listings of the Bloomberg Syndicated Loans League Tables 2019 for the largest Bookrunner and Mandated Lead Arranger.
A news report distributed by the Africa Press Organisation (APO) Group on the League Tables showed that the ITFC provided financing worth over US$2 billion as Bookrunner and Mandated Lead Arranger in 2019, thereby consolidating its position as a reputable partner with which other banks and financial institutions strive to work.
Commenting on the feat, ITFC’s Chief Executive Officer, Eng. Hani Salem Sonbol, said, “the ITFC’s ranking in the 2019 Bloomberg Global Syndicated Loans League Tables represent a major milestone in our journey towards boosting inclusive socio-economic growth across OIC member countries.
“Thanks to our partners, ITFC was able to make widespread progress in developing strategically important relationships with OIC member countries and in facilitating financing for incredibly important industry sectors”, Sonbol enthused.
According to Bloomberg, the ITFC’s share of the Global Bookrunner Islamic Finance was more than 9% percent on a volume of US$2.04 billion, whilst its share of the Global MLA Islamic Finance market exceeded 6.9%. This places ITFC in the league of global major international and regional financial institutions.
It is worth mentioning that ITFC since inception had provided more than US$51 billion of trade financing to OIC Member Countries.
For instance, in 2019, the corporation completed important syndicated deals for several member countries, especially for Egypt, Pakistan, Bangladesh, Turkey, Tunisia, Djibouti and Gambia to support key sectors including, energy, industrials, healthcare, agriculture and others.
The ITFC also restated its commitment to continue and expand the development in its member-countries with the help of its dependable investors’ base.
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