Sberbank structures rade finance deal with International Islamic Trade Finance Corporation

Wednesday 5 August 2020 09:07 CET | News

Sberbank has structured a trade finance deal with the International Islamic Trade Finance Corporation (ITFC), a provider of Trade Solutions.

The deal was implemented through Sberbank’s subsidiary bank in Switzerland that has commodity trade finance at the core of its operations.

According to the official press release, under the deal Sberbank have structured an export letter of credit to supply Russian wheat to Egypt. Besides, the bank aims to unlock new opportunities to develop the Islamic business area for their customers.

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Keywords: Sberbank, trade finance, International Islamic Trade Finance Corporation, ITFC, Trade Solution, banks, Switzerland, Russia, Egypt
Categories: Banking & Fintech
Countries: Saudi Arabia
This article is part of category

Banking & Fintech