The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank Group (IsDB), granted a €10m Murabaha financing to Bridge Bank Group, Cote d’Ivoire (BBGCI). The facility represents a significant portion of BBGCI’s remaining 2021 trade financing requirements and enables BBGCI to support the Bank’s growing private sector clients as well as small-to-medium-sized […]
From 1 July 2021 major changes are being introduced to VAT payable by traders selling into the EU and within the EU’s trading bloc of 27 member states. The new rules abolish exemptions from VAT registration for businesses selling low-value goods to EU consumers and require firms to collect VAT from their customers at the […]
In its newest chapter in Egypt, the International Islamic Trade Finance Corporation, a member of the Islamic Development Bank (IsDB) Group, launched the “SheTrades” initiative in Egypt, which is implemented by the International Trade Center (ITC) within the framework of the Aid for Trade Initiative for Arab States (AfTIAS) program. The launch took place in […]
Tradewind Finance has reached an agreement with a laser equipment company in Guangdong that sells to Germany, Britain, Italy, and Poland, among other countries. The export factoring arrangement will support open account terms of up to 120 days with the company’s customers. As a traditional trader, the company offers various brands of laser cutting machines. […]
Marking a key milestone for Africa’s continental trade system and export-led growth, under the umbrella of Arab Africa Trade Bridges (AATB) Program, the International Islamic Trade Finance Corporation (ITFC), in cooperation with the Egyptian Export Development Authority, and under the patronage of Her Excellency Nevin Gamea, Minister of Trade and Industry, launched the first training […]
A push for innovation and repositioning barriers for market newcomers For the payments market, government-backed digital currencies could accelerate innovation by setting novel technology benchmarks, as well as rearrange some of the entry barriers for new companies looking to set up shop. A recent survey of central banks has revealed that 86% are actively doing research […]
The 2021 list of Queen’s Awards for Enterprise winners was published yesterday (29 April), showing a diverse group of exporting businesses triumphing in the International Trade category. This category, the competition’s largest with 122 out of 205 winners this year, is supported by the Institute of Export & International Trade, with director general Marco Forgione acting […]
The joint state aid programme of the German federal government and German trade credit insurers, set up to stabilize supply chains during the pandemic, will come to its planned end on June 30, 2021. Based on all parties analysis of the current market situation, an extension is not necessary, especially since the expiration of the “protective shield” will be […]
A Cash Against Documents transaction orchestrated by Saudi-based ITFC was successfully completed between SOFITEX and Louis Dreyfus Company (LDC), using an electronic bill of lading issued by the CMA AGM Group, a world leader in shipping and logistics, through Bolero’s digital trade finance platform for the first time. The transaction concerned a cotton shipment originating […]
As the UK government negotiates new trade deals in markets across the globe, research from Barclays Corporate Banking released today reveals how British exporters can benefit from price premiums of up to £3.5bn per year in ten key countries. In an international study of over 10,000 people across ten markets (United States of America, Republic […]
