Sunday , 9 December 2018

Saudi-based ITFC, Federated Investors to launch $300mln trade finance fund

Islamic economy concept.

The sharia-compliant fund is expected to launch later this year and would invest in energy-related structured trade, supply chain financing and project finance assets of sovereign entities

The Saudi-based International Islamic Trade Finance Corp (ITFC) said on Thursday it would launch a $300 million fund alongside U.S. fund manager Federated Investors, aiming to tap trade finance opportunities in Muslim-majority countries.

The sharia-compliant fund is expected to launch later this year and would invest in energy-related structured trade, supply chain financing and project finance assets of sovereign entities, the ITFC said in a statement.

The fund will be managed by ITFC with input from Federated Investors, one of the largest investment firms in the U.S with $379.7 billion in assets under management

The two firms have worked together on Islamic trade finance transactions since 2014.

 

In recent years the ITFC, part of the Islamic Development Bank Group, has been expanding activities in countries outside the traditional core areas of Islamic finance in the Middle East and Southeast Asia.

About Marc Mcilhone

Marc Mcilhone
Marc Mcilhone is ArabBrains' Editor - sourcing news and features content and overseeing the work of the site’s contributors. Marc’s work is informed by his technical background in architecture having worked for some of the UK’s leading practices on projects within the education, healthcare and housing sectors. Marc has a particular interest in how innovators are creating sustainable solutions that have a positive impact on people’s everyday lives. Please email press releases and news to: editor@arabbrains.com

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