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Islamic banking has the potential to foster greater financial intermediation and inclusion, especially among Muslim populations that may be under-served by conventional banks, and to facilitate lending in support for small and medium sized enterprises, the IMF says.
Selling in an international marketplace is a challenge for many companies. Different currency systems, legislation and languages are still barriers to international trade even though we can place orders across the globe within seconds.
FCI, in cooperation with Islamic scholars, prepared a contract facilitating Islamic international factoring transactions in 2018: the Supplemental Agreement for Islamic International Factoring. In order to build capacity on the topic, FCI, in partnership with the ITFC, have organised a webinar on International Islamic Factoring. The webinar, taking place on 13 September, will allow attendees to understand the factoring industry, what is international factoring along with how it works, some key principles of Islamic Finance Islamic International Factoring, and the benefits of the industry for both Islamic and non-Islamic financial institutions. It will be followed by a panel discussion with experts from the Islamic factoring industry to discuss the opportunities of growth, supply chain finance and the comparison of Murabaha and factoring.
Register to attend the free webinar to learn more about Islamic International Factoring!