Financial and Banking News


IDB Trade Portfolio Approves Deals Worth $22.5mn

The first $22.5mn worth of trade financing deals handled by the Islamic Development Bank (IDB)-administered Trade Portfolio were approved in Jiddah last week. An IDB announcement gave no details, but referred to credits to be extended to companies in Egypt, Saudi Arabia, Turkey, Algeria, Tunisia, Iraq and Kuwait. The traded goods include oil, aluminium, copper, plastics, electrical appliances,...