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ITFC, Mizuho Bank Malaysia reach USD 100 mln trade financing deal

Wednesday 9 September 2020 14:34 CET | News

The International Islamic Trade Finance Corporation (ITFC) has signed a USD 100 million Murabaha-structured line of trade finance with Mizuho Bank in Malaysia. 

This financing will help ITFC extend its support to the member countries under its COVID-19 Response Plan that is targeted towards supporting both public and private sectors. The financing is ITFC’s first partnership with a Japan-based bank, signalling an expansion of its partners around the world. 

The line of financing will help ITFC meet its commitment to building capacity and economic growth in OIC member countries across the world's markets. This is an important milestone in ITFC’s international presence and its strategy of extending partnership globally through alliances with banks both inside and outside of the OIC, according to ITFC staff.

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Keywords: ITFC, Mizuho Bank Malaysia, trade finance, International Islamic Trade Finance Corporation, Murabaha, Malaysia, financing, covid-19 response plan, Japanese, bank, OIC
Categories: Banking & Fintech | E-invoicing, SCF & E-procurement
Countries: World
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Banking & Fintech