New agreements worth $3 billion signed with ITFC in Baku

New agreements have been signed in Baku with the International Islamic Trade Finance Corporation (ITFC) worth $3 billion, ITFC Chief Executive Officer Adeeb Al Aama said at a press conference held within the framework of the 51st Annual Meetings of the Islamic Development Bank (IsDB) Group in Baku.

Al Aama noted that ITFC views trade as a key catalyst for sustainable development. "In 2025, ITFC carried out approved trade finance operations totaling $9.3 billion, which is the highest annual figure in its history. During the events held this week in Baku, ITFC signed new contracts worth a total of about $3 billion. These contracts include new framework agreements with a number of member countries and create a solid foundation for future cooperation in both trade finance and trade development," he said.

According to him, to expand access for Azerbaijani SMEs to Islamic trade finance, the corporation has established partnerships with local commercial banks - Rabitabank and Turanbank. He also emphasized that the corporation continues to implement trade facilitation initiatives, including the Trade Connect Central Asia Plus (TCCA+) project. This initiative is designed to intensify mutual trade turnover between Azerbaijan and Central Asian countries, as well as strengthen their ties with other regions.