The International Islamic Trade Finance Corporation organizes first Capacity Building program to support the private sector in Saudi Arabia
Source: APO for ITFC , Author: Posted by BI-ME staff
Posted: Thu October 5, 2017 11:16 am

SAUDI ARABIA.--/APO/-- On Sunday, October 1st, 2017, and for a period of 5 days, the first series of training courses was launched in Al Madinah Al Munawara, organized by the International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org), a member of the Islamic Development Bank Group, in favor of Madina Chamber of Commerce and Industry, in cooperation with the Foreign Trade Training Center (FTTC), Egypt.

The launching was inaugurated by Eng. Hani Salem Sonbol, CEO, ITFC, Mr. Munir bin Mohamed Nasser bin Saad, Chairman of the Madina Chamber of Commerce and Industry, and Dr. Adel Al Mahdi, Expert and Representative of FTTC. This event comes in line with the MOU signed, between the Islamic Development Bank Group, and Madina Chamber of Commerce and Industry in Ramadan, 1438H. 

On this occasion, Eng. Hani Salem Sonbol, CEO ITFC emphasized: “We are pleased with the partnership with Madina Chamber of Commerce and Industry, where for the first time ever, we organize training courses related to International trade.”

ITFC & FTTC have collaborated together in this tailored Capacity Building workshop to train the traders in their exporting capacities, and open windows for International Trade. It is within the ISDB Group strategy, and ITFC in particular; to expand its role, and cooperation in the Saudi market, and we consider this one of the main milestones towards achieving the strategic direction to give support to the private sector; to diversify its economy, and employ young Saudis to contribute to the future objectives, and to support and contribute to achieving the overall development of the Kingdom in the scope of its 2030Vision.

This training course aims at identifying the mission of the international trade, and how to obtain the required data for targeted markets, and the understanding of export strategies. 

Eng. Sonbol concluded “The development of the Madina Dates Sector, which represents one of the items included in the MOU, in cooperation with the International Trade Center (ITC), a United Nations’ arm for supporting the private sector in its member countries, aims at addressing the constraints the farmers and small and medium size enterprises (SMEs) face, and endure. The expected impact, and outcome from this project is to improve competitiveness, and increase exports of Al Madinah Dates, which will generate better income to farmers, and increase employment opportunities.”

In this regard, he also stressed that (ITFC) counts on these training sessions to raise the awareness of the importance of export in this vital sector in Al Madinah.

Distributed by APO on behalf of International Islamic Trade Finance Corporation (ITFC).

About the International Islamic Trade and Finance Corporation (ITFC):
The International Islamic Trade Finance Corporation (www.ITFC-IDB.org) is an autonomous entity within the Islamic Development Bank (IsDB) Group. ITFC commenced operations in January 2008 with the purpose of consolidating all the trade finance businesses that used to be handled by various windows within the IsDB Group. The consolidation of IsDB Group’s trade finance activities under a single umbrella enhanced the Corporation’s efficiency in service delivery by enabling rapid responses to customer needs in a market-driven business environment.  

As a leader in Shari’ah-compliant trade finance, ITFC deploys its expertise and funds to businesses and governments in its Member Countries. With the vision of being the leading provider of trade solutions for OIC Member Countries’ needs, the Corporation helps entities in Member Countries gain better access to trade finance and provides them with trade development programmes in order to help them compete successfully in the global market. Operating to world class standards, ITFC promotes IsDB developmental objectives through its two main pillars, Trade Finance and Trade Development, to fulfil its brand promise of “Advancing Trade & Improving Lives”.

 

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