The ITFC Approves USD 10 Million Murabahah Financing to Mauritania to Combat COVID-19

The International Islamic Trade Finance Corporation (ITFC) has approved USD 10 million in Murabahah Financing to the Islamic Republic of Mauritania, to assist with the purchase of medicine and equipment to help the African nation combat the COVID-19 pandemic, according to a statement released recently.

The Murabaha financing, which was requested by the Government of Mauritania, comes under ITFC’s assistance to the country under its COVID-19 Rapid Response Initiative, which provides emergency financing measures to Organization of Islamic Cooperation (OIC) member countries.  

The financing, which will be handled by Centrale d'Achat des Médicaments, Équipements et C...