Latest news with #TradeFinance
Yahoo
5 days ago
- Business
- Yahoo
Zvilo boosts working capital lending capacity to €75m with Fasanara Capital
Fintech lender Zvilo has expanded its debt facility with Fasanara Capital, a capital partner with whom it has a longstanding relationship. The facility's capacity has been raised to up to €75m ($88m) from the €50m initially pledged by Fasanara in 2022. Zvilo chairman Admir Imami said: 'Fasanara has been an avid and early supporter of Zvilo. This expanded facility is a strong endorsement of our performance and vision to close the $2.5tn global trade finance gap. 'As we strengthen our presence in emerging markets, we are excited to continue scaling alongside a partner that shares our mission.' Zvilo has already tapped into the initial capital to enhance its presence and deliver services to clients in over 39 different markets. Zvilo expects the new facility to catalyse its growth strategies, especially in regions such as Africa, Turkey, and the Middle East. The company plans to utilise the funding to grow its portfolio, improve its operational hubs, and provide analytics-based trade finance solutions to an expanded client base of MSMEs [micro, small and medium enterprises]. Fasanara Capital CEO Francesco Filia stated: 'We back fintech platforms that are reshaping the SME lending landscape. Zvilo's use of technology, disciplined underwriting, and regional expertise align well with our vision for next-generation credit. We are proud to continue supporting their growth and impact.' Co-founded by Francesco Filia in 2011, Fasanara Capital operates independently and is regulated by the UK's Financial Conduct Authority. Headquartered in London and with additional offices in Milan, the company specialises in private credit within the fintech sector. "Zvilo boosts working capital lending capacity to €75m with Fasanara Capital" was originally created and published by Leasing Life, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Zawya
6 days ago
- Business
- Zawya
ICIEC inks credit insurance policy with Al Baraka Islamic Bank
The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a shariah-based multilateral insurer and member of Islamic Development Bank Group, has signed a documentary credit insurance policy with Bahrain-based Al Baraka Islamic Bank. As per the deal, ICIEC will provide insurance coverage for the confirmation of Letters of Credit (LCs) issued by Al Baraka Islamic Bank in connection with the import and export of eligible shariah-compliant goods and services, said the Corporation in a statement. This solution will help mitigate payment risks associated with cross-border trade while promoting sustainable growth in ICIEC's member states, it stated. The DCIP serves as a vital tool for Islamic banks, enhancing their ability to expand trade finance operations with reduced exposure to commercial and political risks. The policy also complements ICIEC's broader mandate to promote economic resilience, financial inclusion, and private sector development in member countries. It aims to strengthen support for shariah-compliant trade finance, enabling greater security and confidence in the international trade ecosystem, remarked Dr. Khalid Khalafalla, Chief Executive Officer of ICIEC, after signing the deal with Dr. Adel Salem, Chief Executive Officer of Al Baraka Islamic Bank BSC Bahrain, "This strategic collaboration with Al Baraka Islamic Bank reflects ICIEC's unwavering commitment to advancing intra-OIC trade and investment," he noted. "By supporting shariah-compliant trade finance through our Documentary Credit Insurance Policy, we are facilitating secure trade flows while empowering Islamic banks to broaden their offerings to clients. This partnership demonstrates the power of multilateral cooperation in achieving shared development goals," he added. Both institutions reaffirmed their shared dedication to expanding the reach of Islamic finance, strengthening risk mitigation tools, and contributing to inclusive and sustainable economic development, said the statement. The duo is putting in a joint effort to enhance the capacity of Islamic financial institutions to manage trade-related risks more effectively, it added. Dr Salem said: "We are delighted to partner with ICIEC on this pioneering Credit Insurance Policy, which empowers us to extend shariah‑compliant trade finance to our clients, bolster Bahrain's role as a regional hub for Islamic banking, and stimulate sustainable economic growth across member states worldwide." "This collaboration underscores our unwavering commitment to innovation and robust risk management, giving the businesses we serve greater confidence to expand in global markets," he added.- TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Zawya
22-07-2025
- Business
- Zawya
Al Baraka Bank Egypt seals $100mln deals with ICIEC
Arab Finance: Al Baraka Bank Egypt has signed two agreements worth a combined $100 million with the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), according to an emailed press release. The agreements include The Documentary Credit Insurance Policy (DCIP) and The Bank Master Policy (BMP), both aimed at bolstering the bank's Islamic trade finance capabilities. The DCIP, valued at $50 million, is set to support the export transactions backed by Letters of Credit for Al Baraka Bank's Corporate and SMEs exporters. The policy provides tailored risk-mitigation instruments in de-risking the non-payment risk of overseas banks. This enhances exporters' ability to expand into new markets and increase their cross-border trade volumes. Meanwhile, the BMP will support Islamic trade finance transactions worth $50 million, marking a key step toward the development of Islamic finance and enhancing its role in supporting Corporate and SMEs. The signing ceremony was held between Khaled Khalfallah, CEO of ICIEC, and Ahmed Atteya, Head of Financial Institutions at Al Baraka Bank Egypt, in the presence of a group of senior international officials. Kareem Namek, Chief Financial Markets at Al Baraka Bank Egypt, stated: "These agreements reflect Al Baraka Bank Egypt's unwavering commitment to offering integrated, Sharia-compliant banking solutions that empower our clients to conduct international trade with greater confidence and security.' 'The provision of such advanced insurance coverage is a cornerstone of our strategy to mitigate credit risk, expand our trade finance operations, and contribute to long-term sustainable economic growth," he added. These agreements are expected to enhance the ability of Al Baraka Bank Egypt's corporate and SMEs clients to expand their export activities across global markets, through innovative financial solutions that promote financial stability, attract investment, and support sustainable development. This strategic partnership is aligned with Al Baraka Bank Egypt's vision and build on ICIEC's key role in supporting trade and investment across the 57 member countries of the Islamic Development Bank Group. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
21-07-2025
- Business
- Zawya
Al Baraka Bank-Egypt unveils $100mln deals with ICIEC
Cairo – Al Baraka Bank-Egypt has signed two key agreements totaling $100 million with the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a member of the Islamic Development Bank (IsDB) Group. With each valued at $50 million, The Documentary Credit Insurance Policy (DCIP) and The Bank Master Policy (BMP) agreements are both designed to strengthen Al Baraka Bank-Egypt's Islamic trade finance capabilities, according to a press release. The DCIP aims to support the export transactions backed by Letters of Credit for Al Baraka Bank's Corporate & SMEs exporters. The policy provides tailored risk-mitigation instruments in de-risking the non-payment risk of overseas banks, thereby enhancing exporters' ability to expand into new markets and increase their cross-border trade volumes. Meanwhile, the BMP is expected to support Islamic trade finance transactions worth the $50 million deal value. It represents a key step toward the development of Islamic finance and enhancing its role in supporting Corporate & SMEs. Chief Financial Markets at Al Baraka Bank-Egypt, Kareem Namek, stated: "These agreements reflect Al Baraka Bank-Egypt's unwavering commitment to offering integrated, Sharia-compliant banking solutions that empower our clients to conduct international trade with greater confidence and security.' Namek noted: 'The provision of such advanced insurance coverage is a cornerstone of our strategy to mitigate credit risk, expand our trade finance operations, and contribute to long-term sustainable economic growth.' The official concluded: 'We firmly believe that innovation and transparency in our financial services are essential to strengthening our position as a leading Islamic Financial institution supporting both the national economy and the Islamic banking sector." These agreements are set to enhance the ability of Al Baraka Bank-Egypt's corporate and SMEs clients to expand their export activities across global markets, through innovative financial solutions that promote financial stability, attract investment, and support sustainable development. Through Sharia-compliant insurance solutions, ICIEC facilitates development projects in key sectors such as food security, energy, transportation, and infrastructure. It is worth noting that Al Baraka Bank-Egypt generated net profits after tax worth EGP 959 million in the first quarter (Q1) of 2025. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (
Forbes
20-07-2025
- Business
- Forbes
Trade Finance Is (Finally) Going On-Chain
Trade finance is just the latest sign of institutional adoption In the aftermath of crypto week there is certainly going to be plenty of discussion around the future of cryptoassets in the United States from a policy perspective, but even while that continues to dominate headlines, blockchain adoption continues to accelerate virtually unabated, albeit in an under-the-radar manner. In the immediate run-up to crypto week it was announced that U.S. Bank had completed its first fully digital trade finance transaction, highlighting the shift away from paper-based processes in international trade. As the first American lender to execute such a transaction using WaveBL – a blockchain that enables encrypted document transfers between trading partners and financial institutions – will have ramifications far beyond the specifics of this individual transaction. The Digital Container Shipping Association, representing nine (9) of the world's ten (10) largest container lines, has set a target of issuing 100% of bills of lading in an electronic format by 2030. According to research by the Asian Development Bank estimates that there is potentially $1.5 trillion of trade finance opportunities that have remained untapped, excluding small to medium size businesses. With the speed and transparency provided by blockchain based trade financing agreements, much of this gap can be closed; the DCSA goal toward 100% electronic bills of lading will only accelerate the pace at which this goal is achieved. Outside of the direct benefits to the shipping industry and affiliated entities, lets' take a look at a the benefits this change will create. Regardless of the political turmoil and debate around the cryptoasset sector the fact remains that institutional adoption has continued virtually unabated. Even as the retail market and utilization of crypto, in the form of stablecoins of other iterations, remains stagnant, the influx of institutional investors and attention the space is worthy of attention. Be it the increasing expansion of crypto services by payment processors such as PayPal, Visa, and Mastercard, or the deployment of crypto-native solutions by banking titans such as J.P. Morgan Chase the landscape has shifted in a definitive manner. Crypto transactions, the processing of said transactions, and the benefits of these transactions are increasingly clear to institutions that handle and process trillions of dollars of transactions on an annual basis. Coupled with the regulatory progress being made related to stablecoins, which in and of themselves combine the benefits of on-chain transactions with the stability of the U.S. dollar, and the implications for the dollar-based reserve banking system are clear. Dollars will be going on-chain and will build on existing efforts to tokenize U.S. Treasuries – the largest and most liquid market in the world – to an even greater extent moving forward. Policy debates will occur, but crypto advocates and investors alike should keep an eye on the bigger picture as blockchain and tokenized asset adoption continue to accelerate.
