The Eastern and Southern African Trade and Development Bank (TDB) and the International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IsDB) Group, have signed a Memorandum of Understanding (MoU) to strengthen trade between OIC member states and those of TDB, during the World Bank Group and International Monetary Fund Annual Meetings in Marrakech, Morocco.
Under the MoU, TDB and ITFC will harmonise their efforts to provide robust trade finance solutions to better serve their respective Member Countries in Africa. These solutions encompass an array of financing products such as Murabaha, syndications, co-financing, risk-sharing, and Islamic factoring. Additionally, this relationship will explore opportunities for technical assistance and capacity building, for private sector and SMEs based in common member states.
