Empowering Uzbek Small and Medium Enterprises (SMEs): Islamic Corporation for the Development of the Private Sector (ICD) Provides $10 Million Line of Financing to Anor Bank for SME Financing in Uzbekistan
This pioneering transaction establishes ICD as the first multilateral development bank to provide a Line of Finance to Anor Bank, creating a strategic cornerstone for accelerating private sector growth in Uzbekistan
Anor Bank, a leading digital bank in Uzbekistan, has signed a Line of Financing agreement with ICD (https://ICD-PS.org/). Under the agreement, ICD will provide a USD 10 million Line of Finance facility to Anor Bank. The facility aims to support small and medium-sized enterprises (SMEs) in Uzbekistan and enhance access to Islamic financial solutions for the private sector, in line with Anor Bank’s mission to promote sustainable economic growth across the country.
This financing facility represents a significant milestone in advancing Anor Bank’s strategic objectives, particularly in strengthening SME development, expanding private sector financing, promoting Islamic finance, and contributing to the diversification of Uzbekistan’s economy.
The initiative is fully aligned with ICD’s strategic focus on fostering SME growth and supporting private sector development as a key driver of sustainable economic progress across its member countries.
The agreement was signed by Dr. Khalid Khalafallah, Acting Chief Executive Officer of ICD, and Mr. Sherzod Akramov, Chairman of the Management Board of Anor Bank.
This pioneering transaction establishes ICD as the first multilateral development bank to provide a Line of Finance to Anor Bank, creating a strategic cornerstone for accelerating private sector growth in Uzbekistan. It paves the way for a new era of collaboration and investment.
Distributed by APO Group on behalf of Islamic Corporation for the Development of the Private Sector (ICD).
For further details, please contact:
Anor Bank
Mr. Mirsodiq Mirzahidov
Head of International Relations Division
Mirsodiq.Mirzahidov@anorbank.uz
Ms. Nozigul Ismatova
International Relations Division
Anor Bank
Nozigul.Ismatova@anorbank.uz
Islamic Corporation for the Development of the Private Sector (ICD)
Nabil El-Alami
Communications & Corporate Marketing Division Manager at ICD
Nalami@isdb.org
About Anor Bank:
JSC Anor Bank, founded in 2020, is one of Uzbekistan’s fastest-growing digital banks, offering a full range of financial services to retail and corporate clients through digital channels and 17 sales offices nationwide. The Bank leverages technology-driven platforms to provide fast and convenient access to financial products for both small and medium-sized enterprises and individual clients. Anor Bank actively implements CSR initiatives in education, environmental sustainability, and social development, while promoting financial literacy, especially in remote regions of Uzbekistan, contributing to inclusive economic growth and the country’s sustainable financial sector development.
About the Islamic Corporation for the Development of the Private Sector (ICD):
ICD is a multilateral organization and a member of the Islamic Development Bank (IsDB) Group. ICD's mandate is to support economic development and promote the growth of the private sector in its member countries through providing financing facilities and/or investments in accordance with Shariah principles. Additionally, ICD offers advisory services to governments and private organizations to encourage the establishment, expansion, and modernization of private enterprises. ICD is rated ‘A2’ by Moody’s, ‘A+’ by Fitch, and ‘A’ by S&P.
Website: https://ICD-PS.org/