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CanadExport is the official source of news and advice on trade and investment opportunities around the world, for Canadian entrepreneurs who want to compete, partner and prosper in the global marketplace.						CanadExport Vol. 25, No. 2 (PDF)

Trade News

January 12, 2007

EDC poised to increase Islamic financing

Export Development Canada (EDC) has signed an agreement to help it build closer relationships with key Islamic financial institutions and to increase opportunities for Canadian exporters in countries covered by the Islamic Development Bank Group.

Islamic financing refers to a system of banking or banking activity which is consistent with Islamic law principles and guided by Islamic economics. Islamic law prohibits usury, the collection and payment of interest.

“In more than 75 markets around the world, supporting transactions and projects using Islamic financial instruments is a business reality,” said Eric Siegel, Chief Operating Officer of EDC. “Through this agreement, EDC hopes to develop a wealth of opportunities for Canadian exporters in new markets, particularly the Middle East, Malaysia, Indonesia, India and Pakistan.”

EDC is Canada’s export credit agency, offering innovative commercial solutions to help Canadian exporters and investors expand their international business. EDC’s knowledge and partnerships are used by 7,000 Canadian companies and their global customers in up to 200 markets each year. EDC is financially self-sustaining and is a recognized leader in financial reporting, economic analysis and human resource management.

For more information, go to www.edc.ca.

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