MOROCCO: ITFC MOU WITH ATTIJARIWAFA BANK.

Summary: The Islamic Trade Finance Corporation (ITFC) signed a Memorandum of Understanding (MoU) with Morocco's Attijariwafa Bank.

The Islamic Trade Finance Corporation (ITFC) signed a Memorandum of Understanding (MoU) with Morocco's Attijariwafa Bank. The MoU would focus on opportunities for joint trade financing in Morocco and elsewhere in Africa in accordance with Shariah principles. The cooperation would focus on different areas, including bilateral Treasury and interbank transactions for liquidity investment and borrowing foreign exchange, as well as identifying opportunities for structured trade finance operations in Morocco and other markets. This signing is a set up for a strategic partnership and aims at developing trade finance solutions which serve the needs of member countries in the region.

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