JEDDAH — The International Islamic Trade Finance Corporation (ITFC), the multilateral trade financing institution and a member of the Islamic Development Bank Group (IDB), has signed a Memorandum of Understanding (MoU) with Istanbul Zaim University (IZU), an institution of higher learning incorporated in Turkey that offers undergraduate and graduate programs in many branches of modern science and humanities.
The purpose of the MoU is to provide a general framework for facilitating collaboration and cooperation between ITFC and IZU in order to raise the awareness for Islamic trade finance solutions and maintain joint research and studies on Islamic financial products.
The signing ceremony took place in ITFC’s headquarters in Jeddah. Eng. Hani Salem Sonbol, CEO of ITFC, signed the memorandum for the corporation and Prof. Mehmet Bulut, President of IZU, signed for the university.
ITFC provides trade financing facilities in addition to business advisory services to its clients, introduce them to different partners in other OIC member countries, building capacities of SMEs in collaboration with local institutions, and exchanging expertise and experiences among traders through reverse linkages.
