IslamicFinance.de

The CEO of The International Islamic Trade Finance Corporation (ITFC) will be on an official visit to The Gambia on 16th January 2018. A new agreement will be signed by Eng. Hani Salem Sonbol, CEO of ITFC and H.E. Hon. Mrs. Fatoumata Jallow-Tambajang, Vice President and Minister for Women’s Affairs. Since its inception in 2008, ITFC has approved a total of 30 financing operations for The Gambia for a total of US$437 million. Hani Salem Sonbol will be available for face to face interviews. Only registered journalists will have access to the signing ceremony.

Gambia will receive a grant of US$20.28 million from the International Fund for Agricultural Development (IFAD) to use for improving livelihoods of smallholder farmers. Particular attention will be paid to rural women and youths in the country. Minister for Finance and Economic Affairs Abdou Kolley and president of IFAD Kanayo F. Nwanze signed the financing agreement for the National Agriculture Land and Water Management Development Project. Agriculture is a sector of significant importance in Gambia since it employs more than 72% of the population and contribuets about 30% to the gross domestic product.

Gambia shares experience with Nigeria regarding the preparations to developing Islamic banking in Nigeria. It happens rarely that 'little brother' Gambia gives advices to 'big brother' Nigeria, but there is no doubt about Gambia's courageous and proactive leadership by introducing the law for Islamic finance, from which Nigeria can draw upon.

See more under: http://allafrica.com/stories/201210021083.html

Nine member countries have been approved to receive financing. They are Indonesia, Uzbekistan, Bangladesh, Pakistan, Sudan, Turkmenistan, Gambia, Mauritania and Albania.
The financing includes technical assistance in the form of grants for development projects in Benin, Chad, Togo, the GCC and grants and concessional loans for Sudan.
The approved financing also includes health and educational projects directed towards communities in non-member countries including Congo, Fiji, India and South Africa.