The International Islamic Trade Finance Corporation (ITFC) is in talks with three local banks to provide trade finance solutions for Malaysian entrepreneurs in the emerging markets.

An ITFC spokesperson tells GTR: “There are still ongoing talks with banks but nothing finalised yet. This is part of ITFC’s plan to extend trade financing in Malaysia.”

In particular, the bank aims to provide solutions for commodity trade finance, market access, country risk, logistics support and counterparty risk in the Organisation of the Islamic Conference (OIC) and non-OIC countries.

ITFC’s consultant for Middle East Free Zone Enterprise, Tujuh Keajaiban is managing the agreement, which is still in its early stages, the bank confirms.