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City Bank Wins ITFC Award

Industry: Bank, Financial
Company: City Bank, International Islamic Trade Finance Corp (ITFC)
Company Intelligence Tag: Marketing Insights

City Bank has become the first among the ITFC partner banks to receive an award for its exceptional Shariah-compliant trade finance deal. The recognition comes in light of the bank’s innovative solution offered to customers within the framework of Islamic financing for wheat imports during a period of foreign currency liquidity challenges, stemming from the Russia-Ukraine war’s impact.

The bank’s Managing Director and CEO, accepted the award from the ITFC’s Chief Operating Officer. Additional attendees included ITFC’s two employees as well as City Bank’s some employees. Managing Director and CEO of city bank expressed gratitude for ITFC’s support, emphasizing how it facilitates efficient financing for commercial and SME clients seeking trade facilities under Islamic structures, especially for importing essential commodities with extended tenor options.

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