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Islamic trade body signs deals with African countries

11 May 2023 02:44pm
Image for illustrative purposes only. - FILE PIX
Image for illustrative purposes only. - FILE PIX
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JEDDAH, Saudi Arabia - The International Islamic Trade Finance Corporation (ITFC) signed on Wednesday agreements with African nations, reported Anadolu.

The signing took place on the sidelines of the annual meeting of the Islamic Development Bank (IsDB) Group in Saudi Arabia.

The group signed a US$500-million framework agreement with Mali and another US$600-million agreement with Djibouti.

It also signed murabaha - an interest-free loan option - financing agreement with the Gambia National Petroleum Company and the Gambia National Water and Electric Company. The total figure for the two agreements was US$55 million.

Beginning on Wednesday, the four-day annual meeting in the Saudi port city of Jeddah, will discuss global financial topics and host international agreements. - BERNAMA

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