International Islamic Trade Finance Corporation’s US$100 Million Murabaha Financing

Trowers & Hamlins advised Bank (Malaysia) Berhad on the deal.

The transaction concerned the Shari’a compliant, bilateral, revolving trade financing facility of US$100 million made available to the International Islamic Trade Finance Corporation (ITFC).

ITFC is a member of the Islamic Development Bank (IsDB) Group established with the primary objective of advancing trade among OIC member countries, which would ultimately contribute to the overarching goal of improving socioeconomic conditions of the people across the world. This line of financing, which is ITFC’s first partnership with a Japanese Bank, is intended to help ITFC extend its support to the OIC member countries under its COVID-19 response plan targeted towards supporting both public and private sectors.

The virtual signing ceremony took place on 8 September 2020 between Eng. Hani Salem Sonbol, the Chief Executive Officer of ITFC, and Mr. Shojiro Mizoguchi, the Managing Director and Chief Executive Officer of Mizuho, and was witnessed by other high level representatives of Mizuho and ITFC.

The Trowers & Hamlins team in Kuala Lumpur advising on the transaction was led by partner Elias Moubarak (Picture) with support from associates, Nicol Ong and Leanda Arul.

Involved fees earner: Leanda Arul – Trowers & Hamlins; Elias Moubarak – Trowers & Hamlins; Nicol Ong – Trowers & Hamlins;

Law Firms: Trowers & Hamlins;

Clients: Mizuho Bank Berhad;

Author: Michael Patrini.