BAKU, Azerbaijan, June 16. The International
Islamic Trade Finance Corporation (ITFC), a member of the Islamic
Development Bank (IsDB) Group, opened its participation at the 2026
IsDB Group Annual Meetings in Baku with three strategic agreements
signed and a full day of high-level engagements focused on
promoting cooperation in the areas of trade finance, trade
development, private sector growth, and regional economic
cooperation, the IsDB reports.
Adeeb Yousuf Al Aama, Chief Executive Officer of ITFC, led the
Corporation’s delegation in bilateral meetings with governors and
delegations from member countries, including Bangladesh, The
Gambia, Guinea, Maldives, Senegal, Somalia, and Tajikistan, as well
as with partners, including Vakif Katilim Bank and Turk Eximbank.
Discussions focused on expanding trade finance cooperation,
strengthening access to Shariah-compliant financing, and
identifying practical ways to align ITFC’s interventions with
national development priorities.
ITFC also participated in the Halal Economy Leadership Forum
2026, where Mr. Nazeem Noordali, ITFC Chief Operating Officer,
joined the Strategic Leadership Dialogue on Ethical Halal Business
Models and Risk-Resilient Financing. The session explored how halal
economy models, Islamic finance, and risk-sharing mechanisms can
support regional integration, MSME participation, and cross-border
trade across member countries.
Key Signings
The Gambia: US$250 Million Framework Agreement to
Support the Vital Sectors of the Economy
ITFC signed a three-year US$250 million Framework Agreement with
the Republic of The Gambia to guide the next phase of cooperation
between the two parties. The agreement follows the full utilization
of the previous five-year US$250 million Framework Agreement signed
in January 2021.
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.
The agreement was signed by Hon. Seedy K.M. Keita, Minister of
Finance and Economic Affairs of the Republic of The Gambia, and
Eng. Adeeb Yousuf Al Aama, Chief Executive Officer of ITFC.
Tajikistan: US$10 Million Direct Murabaha Facility to
Support Cotton Trade
The International Islamic Trade Finance Corporation (ITFC)
signed a US$10 million Direct Murabaha Financing Facility with the
Republic of Tajikistan to support the purchase and trade of cotton
and cotton-related products. The agreement was signed by Eng. Adeeb
Yousuf Al Aama, CEO ITFC and HE. Mr Hokim Holiqzoda, the First
Deputy Prime Minister of the Republic of Tajikistan.
The pilot facility will provide working capital to the cotton
sector stakeholders, enabling 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 exporting, thus supporting a sector that contributes
significantly to export activity, agricultural value chains, and
rural livelihoods.
With approximately 37,000 cotton-producing farms and entities
engaging an estimated 680,000 people across the country, the
financing is expected to strengthen market linkages and sustain
income-generating activities. The agreement builds on ITFC’s
ongoing support for strategic sectors in Tajikistan and reflects
its commitment to delivering Shariah-compliant trade finance
solutions that address the development priorities of its member
countries.
Regional: Confirming Bank Agreement with IFC to Expand
Trade Finance Access
ITFC signed a Confirming Bank Agreement with the International
Finance Corporation (IFC), marking a new step in strengthening
collaboration between the two institutions to support trade finance
across common OIC member countries. The agreement was signed by Mr.
Nazeem Noordali, Chief Operating Officer of ITFC, and Mr. Abdullah
Jefri, IFC’s GCC Division Director, and witnessed by Eng. Adeeb
Yousuf Al Aama, Chief Executive Officer of ITFC.
Through the partnership, ITFC will be able to expand its trade
finance operations by leveraging IFC’s risk-sharing framework and
guarantees covering the payment obligations of issuing banks. The
collaboration is expected to enhance access to trade finance for
importers and exporters in OIC member countries, facilitate
critical cross-border trade transactions, and support greater trade
connectivity and economic growth across member
countries.
Held in Baku, Azerbaijan, the opening day of ITFC’s Annual
Meetings program placed trade finance, trade development, and
Islamic finance at the center of its agenda. Further agreements and
high-level engagements are expected throughout the week as ITFC
continues to work with member countries and partners to finance
essential trade, expand private sector participation, and
strengthen regional connectivity.
