The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank Group (IDB), has signed a € 68 million syndicated Murabaha agreement with Cameroon. Agreement that will primarily support the energy sector.
The financing will allow the import of crude oil that will be refined and sold both locally and internationally at 70% and 30% through the national refinery (SONARA).
The agreement was signed by Eng. Hani Salem Sonbol, CEO of ITFC and Minister of Economy Planning and Regional Development, Alamine Ousmane Mey, in Tunisia on the sidelines of the 43rd meeting of the IDB Board of Governors.
