International Islamic Trade Finance Corporation (ITFC) and FCI to host Online Conference on Islamic International Factoring
The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-idb.org), member of the Islamic Development Bank Group (IsDB) is partnering with FCI to host an online conference on Islamic International Factoring. To be held on the 13th September from 11:00 AM to 01:30 PM KSA Time, the event will explore key topics including the benefits and principals of Islamic factoring. Keynote speakers include Mr. Peter Mulroy, Secretary General, FCI and Mr. Basel Al Hussain, ITFC Dubai Branch Manager who will share their perspective on Islamic factoring and what the implications are during present-day challenges imposed by the COVID-19 pandemic.
During the event, a panel discussion moderated by Mr. Cagatay Baydar, member of FCI Executive Committee and featuring panelists from Islamic members of FCI and ITFC will focus on diverse topics including unlocking the opportunities for growth with Islamic finance, innovative finance solutions for SMEs, financing chain through participation banking, and the benefits of Murabaha vs factoring. This will be followed by an interactive Q&A session to address practical applications of Islamic Factoring.
This virtual conference will gather participants from banks, financial institutions, factoring companies, international importers, and exporters as well as FCI members.
For more information about the event and to register, please visit https://bit.ly/3kQplMg. Deadline for registration is 09th September, 05:00 PM Dubai time.
Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).
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About the International Trade Finance Corporation (ITFC):
The International Islamic Trade Finance Corporation (ITFC) is a member of the Islamic Development Bank (IsDB) Group. It was established with the primary objective of advancing trade among OIC member countries, which would ultimately contribute to the overarching goal of improving socioeconomic conditions of the people across the world. Commencing operations in January 2008, ITFC has provided US$55 billion of financing to OIC member countries, making it the leading provider of trade solutions for these member countries’ needs. With a mission to become a catalyst for trade development for OIC member countries and beyond, the Corporation helps entities in member countries gain better access to trade finance and provides them with the necessary trade-related capacity building tools, which would enable them to successfully compete in the global market.
FCI is the Global Representative Body for Factoring and Financing of Open Account Domestic and International Trade Receivables. With close to 400 member companies in 90 countries, FCI offers a unique network for cooperation in cross-border factoring. Member transactions represent nearly 90% of the world’s international correspondent factoring volume. After 50 years of existence, FCI opened two more business lines: reverse factoring (FCIreverse and EDIreverse) and Islamic International Factoring. FCI's origins include a strong legal framework (FCI Constitution, Interfactor Agreement, General Rules for International Factoring-GRIF, Edifactoring.com Rules, Supplemental Agreement for Islamic International Factoring, General Rules for FCIreverse and FCI Rules of Arbitration) platforms for cross-border transactions (edifactoring.com and FCIreverse) and more than 50 years accumulated knowledge (FCI Academy).
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