Presentation of the International Islamic Trade Finance Corporation (ITFC) in NBT

On October 30 – 31, 2018 the training seminar on “Presentation of the International Islamic Trade Finance Corporation (ITFC) - a member of the Islamic Development Bank Group” was held by the National Bank of Tajikistan in cooperation with the given corporation for the banking system staff of the country in the National Bank of Tajikistan.

In the beginning the Management of the National Bank of Tajikistan has introduced the ITFC delegation with macroeconomic situation, achieved results in development of regulatory legal acts of the National Bank of Tajikistan for regulation and supervision of the Islamic financial institutions and bringing into compliance with the Islamic financing principles, and noted that realization of the Islamic banking system in Tajikistan may support an attraction of more investment from the Islamic Development Bank’s member-states.

In turn Mr. Abu Jallov, Senior Advisor of Operation Management and Operation General Manager of the ITFC of the Islamic Development Bank had said that the International Islamic Trade Finance Corporation (ITFC) is motivated to enter into fruitful cooperation with financial institutions of the Republic of Tajikistan and offer financing line to financial institutions. Particularly, Corporation plans to invest to private sector, especially to SME of the Republic of Tajikistan in future.

During presentation of the ITFC seminar participants were provided with detailed information on history of the Islamic Bank formation, conception and types and methods of its activities within banking system, and seminar participants got full answers to their questions.

It should be noted that the International Islamic Trade Finance Corporation (ITFC) as a member of the Islamic Development Bank Group has started its activities in 2008, and its goal is trade development for improvement of economic situation and raising the well-being of the people of all over the world.

Press Division
NBT