The International Islamic Trade Finance Corporation (ITFC), member of the Islamic Development Bank (IsDB) Group, signed a US$200 million syndicated Murabaha financing agreement with the African Export-Import Bank (Afreximbank), a multilateral financial institution established by African governments and institutional investors. The facility seeks to help African countries address some of the economic impacts of the […]
The global Islamic finance industry will return to slow growth in 2020-2021 after strong performance in 2019 underpinned by a more dynamic sukuk market, S&P Global Ratings said today (see report). “The significant slowdown of core Islamic finance economies in 2020, because of measures implemented by various governments to contain the COVID-19 pandemic, and the […]
The International Islamic Trade Finance Corporation (ITFC), member of the Islamic Development Bank (IsDB) Group, has approved a US$15m Murabaha Financing Facility in favour of City Bank Limited in Bangladesh to support the Bank’s private sector businesses, particularly SMEs importing raw materials from the international markets. City Bank is the latest partner institution to work […]
A holiday company says it is planning for the future and looking forward to welcoming its customers back, thanks to support from Lloyds Bank. Alfa Leisureplex Group has secured a £17m credit facility, including a £5m Coronavirus Business Interruption Loan Scheme (CBILS) loan from Lloyds Bank. The funding will be used to support the business […]
Bibby Financial Services (BFS), has provided an £850,000 funding facility which includes invoice discounting and trade finance to H Bronnley and Co UK Ltd, a luxury soap and fragrance business which exports to partners worldwide. H Bronnley & Co supply a range of high-quality soaps and fragrances, with a rich heritage dating back to 1884. […]
The International Chamber of Commerce (ICC) has released its 2019 Trade Register Report, revealing COVID-19’s potential to disrupt global trade, while also highlighting the low-risk nature of trade finance. The report, produced by the ICC Banking Commission, reiterates the importance for all stakeholders to take the low risk nature of trade finance into account to […]
Banco Santander announced today the completion of its purchase of a c.50.1% stake in Ebury, one of the best international payment, FX and international cash management platforms for SMEs, after obtaining all regulatory approvals from the required authorities. This transaction was announced in November 2019 and is part of the bank’s digital strategy, providing SMEs […]
Independent SME funder, Bibby Financial Services (BFS) has provided a £600,000 funding facility to Tech Professionals Ltd. a technical recruitment company which supplies engineers, technicians and other expert roles across a range of industries, specialising in providing contract staff for off-shore, sub-sea projects such as windfarm construction, power cable laying and underwater robotics testing. The […]
The International Chamber of Commerce (ICC) has provided guidance to the trade finance market to address COVID-19 disruptions, urging governments and central banks to void any legal prohibitions on the use of electronic trade documentation. Responding to the urgent need to address the disruptions facing the trade finance market as the world grapples with the […]
Independent SME funder, Bibby Financial Services (BFS), has provided a £3.5m funding facility to Capital Cooling Refrigeration Limited, a refrigeration specialist with 20 years’ experience in the industry. The West Lothian business based in Broxburn, designs, manufactures, distributes and maintains a range of commercial refrigeration products and bespoke systems to a variety of well-known UK […]
