ITFC provides trade financing for Bangladesh

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22 June 2009

The International Islamic Trade Finance Corporation (ITFC) has approved a trade finance operation for the People's Republic of Bangladesh.

The board of directors of the International Islamic Trade Finance Corporation (ITFC), an autonomous entity within the Islamic Development Bank (IsDB) Group, has approved a trade finance operation for...

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Poll

Will Russia’s recent ban on grain exports result in a significant rise in private risk insurance claims from grain traders unable to fulfil their contracts?

Yes – there will be more claims. The government’s actions allow traders, with PRI cover, to make claims through contract frustration.

No - the majority of Russia’s wheat production, some 70%-80%, is used for domestic consumption so the contracts represent only a small portion of the total wheat market, limiting the amount of potential claims.

23%

No - traders had a week’s notice before the ban allowing them to secure alternative supplies to fulfil contracts stated as optional origin.

23%

Maybe - but claims are likely to be limited to traders dealing in soft wheat whose contracts demand they source wheat only from Russia.

46%