International Islamic Trade Finance Corporation Signs USD 100 Million Murabahah with Mizuho Bank (Malaysia)

The International Islamic Trade Finance Corporation (ITFC), part of the Islamic Development Bank (IsDB) Group, has signed a USD 100 million trade financing facility with a Murabahah structure with Mizuho Bank Malaysia, a subsidiary of Japan-based Mizuho Bank, according to media reports.

The Murabahah trade financing facility is ITFC’s inaugural partnership with a Japanese bank, reflecting an expansion of partners globally, and will enable ITFC to extend support towards public and private sectors in Organisation of Islamic Cooperation (OIC) member countries under its COVID-19 Response Plan.

According to Eng Hani Salem Sonbol, Chief Executive Officer (CEO) of ITFC, the Murabaha...