ITFC presents its Islamic trade finance role at WTO forum

ITFC’s CEO Hani Salem Sonbol speaks at the WTO Public Forum in Geneva.
Updated 02 October 2016

ITFC presents its Islamic trade finance role at WTO forum

The International Islamic Trade Finance Corporation (ITFC), member of the Islamic Development Bank (IDB) Group, participated in the WTO Public Forum in Geneva on Sept. 29.
ITFC’s CEO Hani Salem Sonbol presented the IDB Group’s role in general and ITFC’s role in specific to the global trade finance during the panel on "Trade finance for SMEs: Policy, instruments and innovation."
“It is very important to convey the ITFC story, and the trade-finance solutions we provide for the development of our member countries, specifically during this critical time and all the economic challenges we are facing today,” commented Sonbol.
The discussion focused on ITFC’s positioning, as the South-South multilateral institution has allowed the corporation to shape tailor-made financing solutions supporting trade flows, in addition to ITFC’s special programs that are being developed to tackle SMEs’ needs through a mix of dedicated financing structures (like two-steps murabaha) and capacity building modules.
As of today, the IDB Group has financed more than $60 billion of trade transactions all over the world. Since its inception in 2008, ITFC has on its own extended more than $33 billion of trade finance.


Helicopter Company hauls largest airborne Saudi flag across the Kingdom’s skies

Updated 29 September 2020

Helicopter Company hauls largest airborne Saudi flag across the Kingdom’s skies

  • Impressive spectacle marked the start of a first-of-its-kind airshow, as part of the Kingdom’s 90th National Day celebrations

RIYADH: The Helicopter Company (THC) helped Saudi Arabia’s 90th National Day Airshow get off to a flying start by displaying the largest airborne Saudi flag in the skies above the Kingdom.

The impressive spectacle marked the start of the first-of-its-kind event, which combined military and civil aviation displays in a single show. The week-long airshow, organized by the General Entertainment Authority, began in Jeddah on Sept. 21, before moving on to Riyadh and concluding in Al-Khobar.

It began with a THC AgustaWestland AW139 helicopter towing the 2,000-square-meter flag across the sky. At the end of each day’s airborne entertainment, THC took the skies again to display a banner decorated with the slogan of the 90th National Day, “mettle to the top.”

THC, which is wholly owned by the Kingdom’s Public Investment Fund, recently launched its banner-towing service. It offers clients the chance to display messages and advertise products on huge customized banners towed across the sky by a helicopter. The company’s participation in the National Day Airshow was the first official use of the service. THC has also introduced aerial photography, in addition to other recently announced aerial business services.