ITFC Tops $100 Billion in Trade Finance Since 2008

A development finance institution headquartered in Jeddah has surpassed a major milestone, exceeding US$100 billion in cumulative trade-finance approvals since it launched operations more than a decade and a half ago.

The International Islamic Trade Finance Corporation (ITFC), which began operations in January 2008, reported that its cumulative trade-finance approvals have reached approximately US$101.46 billion. At the fixed exchange rate of SAR3.75 to the US dollar, that figure is equivalent to around SAR380.5 billion.

The financing is directed at supporting trade across the member countries of the Organisation of Islamic Cooperation, helping facilitate the flow of goods and commerce between participating economies.

Why it matters

Crossing the US$100 billion threshold underscores the scale of the institution's role in financing trade since its early days. With its base in Jeddah, the organisation represents a significant element of the Kingdom's standing as a hub for development and Islamic finance in the region.

The milestone reflects the cumulative impact of the institution's activity over the years in enabling trade among member economies, supporting supply chains, and strengthening commercial ties across a wide group of countries.

---

Stay updated with the latest news, events, sports updates, business insights, real estate and lifestyle stories on Saudi Living — the leading online platform for residents, expats, and visitors in Saudi Arabia.

Follow Saudi Living for daily updates:

• Instagram - @saudiliving
• X - @saudiliving
• Facebook - @saudiliving
• YouTube - @saudiliving