ITFC expands cooperation with Rabitabank and TuranBank in Azerbaijan

The International Islamic Trade Finance Corporation (ITFC) is cooperating with Rabitabank and TuranBank in Azerbaijan, allocating $10 million to each bank.

An ITFC representative made the remarks at the Islamic Development Bank Group Private Sector Roadshow in Baku.

He said the funds are intended to provide funded and unfunded Sharia-compliant trade finance solutions to SMEs in Azerbaijan.

ITFC’s total financing in Azerbaijan stands at $103 million.