Iranian firm benefits from ITFC trade finance loan

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24 June 2009

The International Islamic Trade Finance Corporation has allocated funds to support the import requirements of Iran’s Behshahr Industrial Development Corporation.

The International Islamic Trade Finance Corporation (ITFC), part of the Islamic Development Bank (IsDB), has allocated Eu25 million to...

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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%