JEDDAH — The International Islamic Trade Finance Corporation (ITFC), member of the Islamic Development Bank (IsDB) Group, ranked 2nd globally and as well in Europe, Middle East and Africa’s (EMEA) Islamic Finance listings of the Bloomberg Syndicated Loans League Tables 2019 for the largest Bookrunner and Mandated Lead Arranger.

The League Tables, showed that the ITFC provided financing worth in excess of $2 billion as Bookrunner and Mandated Lead Arranger in 2019, cementing its position as a solid and reputable partner with which other banks and financial institutions strive to work.

“The ITFC’s ranking in the 2019 Bloomberg Global Syndicated Loans League Tables represent a major milestone in our journey towards boosting inclusive socio-economic growth across OIC member countries. Thanks to our partners, ITFC was able to make widespread progress in developing strategically important relationships with OIC member countries and in facilitating financing for incredibly important industry sectors.” said Eng. Hani Salem Sonbol, CEO, ITFC.

The ITFC’s share of the Global Bookrunner Islamic Finance was more than 9% percent on a volume of $2.04 billion, whilst its share of the Global MLA Islamic Finance market exceeded 6.9%. This places ITFC in the league of major international and regional financial institutions of the World.

It is worth mentioning that ITFC since inception had provided more than $51 billion of trade financing to OIC Member Countries. In 2019, ITFC completed important syndicated deals for several member countries, especially for Egypt, Pakistan, Bangladesh, Turkey, Tunisia, Djibouti and Gambia to support key sectors including, energy, industrials, healthcare, agriculture and others. ITFC plans to continue and expand the development in its member countries with the help of its dependable investors base.— SG