Meeting Overview: Eng. Hani Salem Sonbol, CEO of ITFC, met with Dr. Sherif Farouk, Egypt's Minister of Supply and Internal Trade, on September 8 during the 114th Economic and Social Council of the Arab League in Cairo.
Focus of Discussion: The meeting concentrated on strengthening cooperation between ITFC and the Egyptian Ministry, with a key emphasis on improving food security and supporting domestic trade.
Objective: The collaboration aims to enhance Egypt’s economic stability through targeted financing and initiatives that bolster local trade and address food security challenges.
"Jeddah, September 9, 2024 — Eng. Hani Salem Sonbol, the CEO of the International Islamic Trade Finance Corporation (ITFC), a prominent member of the Islamic Development Bank (IsDB), met with Dr. Sherif Farouk, Egypt's Minister of Supply and Internal Trade, on September 8. The meeting occurred on the sidelines of the 114th session of the Economic and Social Council of the Arab League, held at the ministerial level in Cairo, Egypt.
During their discussion, Sonbol and Farouk focused on deepening the collaboration between ITFC and the Egyptian Ministry of Supply and Internal Trade. The talks highlighted their mutual commitment to enhancing food security as a strategic priority. Both parties are dedicated to fostering economic stability in Egypt by advancing initiatives aimed at financing and supporting domestic trade.
The partnership seeks to address critical challenges in food security and aims to create a more resilient economic environment in Egypt. By leveraging ITFC’s financial expertise and the Ministry’s strategic goals, the collaboration is poised to contribute significantly to the stability and growth of Egypt’s economy through effective trade financing and support for local industries."