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A digest of news and opinion from the Maldives.

International Islamic Trade Finance Corporation (ITFC)

ITFC finances $100million to boost Maldives energy sector

ITFC finances $100million to boost Maldives energy sector

By Maldives Times 2 min read

MALE — The International Islamic Trade Finance Corporation (ITFC), member of the Islamic Development Bank (IsDB) Group signed with the State Trading Organization (STO), a government owned company in the Republic of Maldives, a syndicated murabaha financing agreement for $ 100 million. The Murabaha financing will secure more than 75 percent of the purchase of […]

itfc sto

ITFC provides STO with a USD100 million financial facility

By Marco Robinson 1 min read

The following article was published on PSM news, the official State Media in the Maldives. International Islamic Trade Finance Corporation (ITFC) has provided State Trading Organization (STO) with a 100 million U.S. dollar financial facility. The agreement of the venture was signed by the CEO of ITFC Nazeem Noordaah and Managing Director of STO Ahmed […]