Our Corporate Strategy
Our Purpose: Advancing Trade & Improving Lives
Since inception in 2008, ITFC has supported the dynamic expansion of trade in OIC Member Countries. Our approach reflects our expanded role as a world class trade enabler and facilitator. We are guided in our quest to remain the leading provider of trade solutions for OIC member countries needs through a relentless focus on our Strategic Objectives, Strategic Pillars, and our Guiding Principles.
ITFC VISION
"The leading provider of trade solutions for OIC Member Countries"
Strategic Objectives
Three strategic objectives underpin our vision.
Expand Intra-OIC Trade
Our trade solutions facilitate regional integration and connectivity through intra-OIC member countries trade. This leads to shared prosperity through regional economic growth, social development, technology-transfer, knowledge-transfer and innovation between Member Countries.
Grow Islamic Trade Finance
Our Islamic trade finance products are taking Islamic financing mainstream. This allows us to expand the capacity of local financial institutions to provide Islamic finance to people across our Member Countries.
Diversify the Economies of Member Countries
We have a strategic understanding of the economic and development priorities of our Member Countries. This enables us to focus our trade solutions towards marginal markets and high-growth economic sectors to support the expansion and diversification of our Member Countries economies.
Strategic Pillars
Four strategic pillars are central to our objectives.
Private Sector Development
We are focused on supporting the private sector to create jobs and a thriving SME ecosystem within our Member Countries.
Co-operation between Member Countries
We are committed towards facilitating co-operation between our Member Countries through our integrated trade solutions, flagship trade development programs and knowledge and technology-transfer initiatives.
Islamic Trade Finance Solutions
As a key enabler of Islamic financing, we engage with our global strategic partners to develop a go-to-market with Islamic trade finance solutions.
Capacity Development
Capacity development underpins all our strategic pillars and remains essential to the development of new skills for people across our member countries.
Guiding Principles
We maintain a relentless focus on our five principles.
Organizational Excellence
Achieve organizational excellence by creating a culture geared towards a performance driven institution
Visibility
Grow visibility by becoming a global hub for Islamic trade finance through decentralization and international communications
Market Impact
Increase ITFC’s trade finance and trade development market impact across Member Countries
Development Impact
Promote development impact through inclusive growth and contributing towards the SDGs
Sustainable Business Model
Build a resilient business model for sustainable growth by adopting an integrated trade programs approach
Beyond the Status-quo: Realignment of the ITFC Business Model
Our approach to trade finance and development is closely aligned to the strategic priorities of our Member Countries, allowing us to respond with changing market dynamics. Trade disruptions resulting from the COVID-19 crisis in early 2020 has led to stronger realignment of our business model with a clear focus on supporting more member countries, financing trade across new sectors, developing new lines of business, establishing new funding models and operating under an enhanced organizational structure.
COVID-19 Impact Case Study
In early 2020, as the widespread socioeconomic impacts of COVID-19 ravaged the fragile economies of many of our Member Countries, we swiftly repurposed our financing engagements to focus on their most immediate needs. An initial Rapid Response Initiative repurposed US$300 million towards the purchase of emergency medical equipment and supplies, as well as strategic commodities such as staple food and energy supplies. The intensity of the pandemic and its fallout led to an additional assignment of emergency funding of US$300 million.
During the initial phase, a second, longer-term crisis effort, Recovery Response Initiative, was announced, with a further allocation of US$550 million to support recovery across strategic economic sectors in Member Countries over the subsequent two years.
ITFC’s COVID-19 mitigation strategy is part of the Islamic Development Bank (IsDB) Group’s US$ 2.3 billion Strategic Preparedness and Response Program (SPRP) aimed at supporting Member Countries’ efforts to prevent, contain, and recover from the impact of the pandemic. The Program envisages a holistic approach in the short, medium, and long term, accommodating priorities beyond the immediate and emergency response to the health sector, while putting Member Countries back on the path of economic recovery through restoring livelihoods, building resilience. and kick-starting economic growth. Beneficiary member countries of our pandemic mitigation measures have ranged from all corners of the developing world from Asia, Africa, CIS, and Middle East countries.
