TIF and ITFC Discussed a Wide Range of Cooperation

The delegation of the Turkic Investment Fund (TIF), headed by H.E. Baghdad Amreyev, President of TIF, held a meeting with the management of the International Islamic Trade Finance Corporation (ITFC), led by Mr. Nazeem Noordali, Chief Operating Officer, in Jeddah on December 8, 2025. The discussion focused on developing cooperation between the two institutions.

The President of TIF was accompanied by Mr. Ramil Babayev, General Director; Mrs. Betül Sarıkaya, Chief Financial Officer; Mr. Sanjar Usmanov, Chief Investment Officer; Mr. Mirlan Shatmanov, Risk Manager; and Mr. Mehmet Esat Mert, IRCM and Treasury Director. Besides Mr. Nazeem Noordali, the ITFC delegation included Mr. Abul Aleem, Manager for Asia and the Middle East, Mr. Sharif Al Shater Bossely, Manager for Financial Markets, and Mr. Aymen Kasem, Manager for Trade Development.

President of TIF Baghdad Amreyev expressed the TIF’s great interest in building long-term, wide-ranging, and practical working relations with institutions of the IsDB Group, including ITFC. He noted that trade, private sector activity, co-financing, and closer economic links across member states stand among shared areas of interest and pointed to the value of moving forward through concrete and gradual steps.

Chief Operating Officer of ITFC, Mr. Nazeem Noordali, stated that trade finance represents the first operational activity of the IsDB Group and remains central to its mandate. He noted that the annual turnover of ITFC is approximately $9 billion, with operations primarily structured as lines of finance, primarily serving the private sector, while also covering sovereign and state-owned enterprises.

General Director of TIF, Mr. Ramil Babayev, emphasized TIF’s interest in building a structured and technically grounded partnership with ITFC, with a particular focus on trade finance, private-sector support, and pragmatic co-financing modalities. He underlined the importance of aligning instruments, risk-sharing approaches, and operational processes to enable scalable and bankable transactions, while benefiting from ITFC’s established expertise across member countries.

The ITFC side also pointed out that possible areas of cooperation may include TIF participation in ITFC-led syndications for sovereign and state-owned enterprises transactions, involvement in ITFC line-of-financing club deals for financial institutions, treasury-related arrangements such as placements or deposits, and joint technical assistance or grant activities under the TCCA+ program.

The meeting reflected a shared interest in continuing the dialogue and identifying practical next steps for cooperation.