RIYADH: A delegation of International Islamic Trade Finance Corporation (ITFC), headed by its CEO Dr. Waleed Al-Wohaib called on Minister of Finance Dr. Ibrahim Al-Assaf and Minister of Commerce and Industry Abdullah Zainal Alireza in Riyadh this week.
The delegation, which also met with Sami Al-Yousef of the Ministry of Finance, who is an ITFC board member, gave an overview of the achievements of ITFC since its operational launch on Jan. 10, 2008, and discussed the corporation's strategic plans.
They also discussed at length how ITFC could better serve the Saudi private sector by enhancing intra-trade with OIC member countries.
"As the host country of the ITFC and one of the founding members of the IDB, the Kingdom occupies a highly prominent position in the OIC, and the government's leadership in supporting and encouraging private sector enterprises and initiatives is an exemplary model for all member countries," Al-Wohaib said.
The ITFC delegation also met with Abdullah Al-Khenaifer, MD and CEO of the Saudi Export Development Center (SEDC), and discussed ways in which SEDC can participate in ITFC's 'Trade Promotion & Cooperation Program,' and thus contribute to increased trade promotion, capacity building and enhanced technical assistance.
"The purpose of these meetings was to enhance the understanding of how ITFC operates as an autonomous unit within the IDB Group. Most of all, we emphasized how the ITFC trade finance and trade promotion activities in our member countries help advance their developmental goals and economic growth in order to improve people's lives, which is one of the IDB Group's main objectives," Dr. Al-Wohaib said.
"With a 30-year heritage of integrity and success, based on a deep understanding of the market it serves, ITFC is well established as the preferred trade finance partner with the ability to reassure markets and secure trade financing through the unparalleled strength of the Islamic Development Bank Group," he added.
© Arab News 2009
