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Mohamed Ben Ouda, chief executive officer of SNTL

IFTC signs deal with Moroccan firm for logistics project

DOHA, November 22, 2016

The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank Group (IDB), has signed a memorandum of understanding (MoU) with The National Transport and Logistics Company (SNTL) in Morocco, said a report.

The MoU comes as a milestone under the umbrella of Arab-Africa Trade Bridge Program that aims to promote the trade between the two regions, added the Saudi Gazette report.

ITFC will seek through this agreement to mobilise funds for mounting a study for the development of logistics platforms in a number of Sub-Saharan African countries to facilitate trade and investment between these countries, Morocco, and other Arab states, it said.

The signing ceremony took place during the 22nd session of the Conference of the Parties (COP22) in Marrakech, Morocco.

The event was held under the auspices of Dr Bandar Hajjar, president of the Islamic Development Bank Group (IDBG).

The agreement was signed by Eng Hani Salem Sonbol, chief executive officer of ITFC, and Mohamed Ben Ouda, chief executive officer of SNTL, in the presence of senior representatives from both entities, added the report.




Tags: | logistics | Morocco | project | IFTC |

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