Saudi-based ITFC signs $1.4bn deal to fund Bangladesh oil imports

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JEDDAH: The Worldwide Islamic Commerce Finance Corp., a member of the Islamic Improvement Financial institution Group, has signed a $1.4 billion financing plan with the Bangladeshi authorities to fund the nation’s oil imports, the Saudi Press Company reported on Saturday.

The signing happened throughout a latest official go to by a high-level delegation from Bangladesh to the ITFC headquarters in Jeddah.

“This financing plan will allow the Bangladesh Petroleum Firm to import oil merchandise from July to June 2024,” the assertion on SPA mentioned.

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