ITFC CEO: Sustainable trade requires inclusive financial ecosystems

Expanding sustainable trade requires stable, inclusive, and development-oriented financial ecosystems, Adeeb Yousuf Al Aama, CEO of the International Islamic Trade Finance Corporation (ITFC), stated at the 20th IsDB Global Forum on Islamic Finance in Baku within the framework of the Islamic Development Bank (IsDB) Group's 51st Annual Meeting, Report informs.

Al Aama stressed that Islamic finance carries major strategic importance in this area: "Its core principles of risk-sharing, asset-backing, ethical finance, and social solidarity provide powerful tools to support SMEs, invest in infrastructure, finance productive sectors, strengthen sustainable supply chains, and promote cross-border trade and economic cooperation."

He added that they are greatly encouraged by the momentum surrounding the expansion of Islamic finance in Azerbaijan: "Today's presentation of the report on Islamic finance prospects in Azerbaijan marks a significant turning point. It reflects the country's growing interest in Islamic finance and its potential contribution to broader economic growth, sustainable prosperity, and Azerbaijan's strategic role in the Islamic finance space. In many ways, this aligns closely with the IsDB Group's broader ambition to strengthen regional integration, deepen intra-OIC cooperation, and advance South-South economic ties as a pathway to greater collective resilience and shared prosperity."