DRAFT Improving the SMEs Access to Trade Finance
in the OIC Member States
3
 Jurisdictions mired in serious conflict, seeking to manage long-term implications of
transformational events such as the Arab Spring
 Economies in Asia exhibiting potential and identified as part of the next wave of
growth-driving economies, including those referred to as the “Next 11” which are
identified as the post-BRIC emerging economies
 Jurisdictions in Africa and Europe poised for growth, some of which, nonetheless face
significant systemic challenges in the medium term
 Extremes of experience, ranging from the most basic development focus, to positions
among the most advanced economies on the globe
Irrespective of the position of a particular country or jurisdiction, there can be no
disagreement that OIC Member States can only benefit from enhanced trade flows, including
enabling factors such as trade and supply chain finance. Likewise, while trade and supply chain
finance may not necessarily be well understood overall, there is a body of knowledge and best
practice around trade promotion and development, and there is increasing dialogue around
the evolution of Islamic finance, including Islamic trade finance.
The timing for consideration of the challenges and opportunities around trade and supply
chain finance is particularly opportune in terms of the growth and development of Islamic
finance, as well as the significantly accelerated evolution of international trade finance. Trade
and supply chain finance currently enjoy an unprecedented level of profile and visibility, which
some have succeeded in translating into a basis for acquiring additional (human and financial)
resources, and for developing various propositions related to trade finance. Evolutions in
technology and in innovative propositions have excellent potential to help make trade finance
more easily accessible in developing and emerging markets, and even in markets that are
perhaps perceived to be higher-risk.
Overall, numerous factors, globally and across the Islamic world, are aligning to make this a
topic of fundamental importance, and an area where enhanced understanding and
improvement of processes and practices will prove to be very valuable to OIC Member States.