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Islamic Corporation for the Development of the Private Sector (ICD)
Source: Islamic Corporation for the Development of the Private Sector (ICD) |

Islamic Corporation for the Development of the Private Sector (ICD) and Joint-Stock Commercial Bank “Turonbank” Strengthen Partnership to Support Private Sector Growth in Uzbekistan

This initiative is closely aligned with ICD's Private Sector Development Strategy, which focuses on enabling economic dynamism and resilience by empowering SMEs and advancing financial inclusion

The Third Line: ICD and Turonbank announce a USD 30 million Islamic line of financing facility to bolster Uzbekistan's private sector development. Empowering Entrepreneurs: The new facility is designed to accelerate SME growth and foster economic development in Uzbekistan. ​Strengthened Collaboration: This initiative reaffirms the long-standing partnership between ICD and…

Islamic Corporation for the Development of the Private Sector (ICD)
Source: Islamic Corporation for the Development of the Private Sector (ICD) |

Islamic Corporation for the Development of the Private Sector (ICD) and Joint-Stock Commercial Bank “Asia Alliance Bank” Strengthen Partnership to Support Private Sector Growth in Uzbekistan

Asia Alliance Bank has been a trusted partner of ICD since 2013 and has previously received three line-of-financing facilities totaling USD 30 million

The Fourth Line: ICD and Asia Alliance Bank announce a USD 25 million Islamic line of financing facility to bolster Uzbekistan's private sector development.  Empowering Entrepreneurs: The new facility is designed to accelerate SME growth and foster economic development in Uzbekistan.  Strengthened Collaboration: This initiative reaffirms the long-standing partnership between…

Islamic Corporation for the Development of the Private Sector (ICD)

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    • Islamic Corporation for the Development of the Private Sector (ICD) and JSC Ziraat Bank Uzbekistan Collaborate to Boost the Private Sector in Uzbekistan
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Source: Islamic Corporation for the Development of the Private Sector (ICD) |

Islamic Corporation for the Development of the Private Sector (ICD) and JSC Ziraat Bank Uzbekistan Collaborate to Boost the Private Sector in Uzbekistan

This agreement initiates a partnership between ICD and JSC Ziraat Bank Uzbekistan, reflecting ICD’s strategic commitment to bolstering private sector growth within its member nations

ICD (http://www.ICD-ps.org) and Ziraat Bank Uzbekistan signed an Expression of Intent for the USD 10 million Line of Financing Facility aimed at supporting eligible private sector projects in Uzbekistan; This agreement initiates a partnership between ICD and JSC Ziraat Bank Uzbekistan, reflecting ICD’s strategic commitment to bolstering private sector growth within its…

Islamic Corporation for the Development of the Private Sector (ICD)

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    • Islamic Corporation for the Development of the Private Sector (ICD) Signs 11 Transformative Agreements Aimed at Spearheading Private Sector Expansion in Member Countries
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Source: Islamic Corporation for the Development of the Private Sector (ICD) |

Islamic Corporation for the Development of the Private Sector (ICD) Signs 11 Transformative Agreements Aimed at Spearheading Private Sector Expansion in Member Countries

These agreements underscore ICD’s commitment to driving sustainable growth and prosperity through strategic partnerships and financial support

The Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-PS.org) is pleased to announce the signing of 11 pivotal agreements aimed at fostering economic development and facilitating private sector growth and access to capital in several of its member countries. These agreements underscore ICD’s commitment to driving sustainable…

Islamic Corporation for the Development of the Private Sector (ICD)
Source: Islamic Corporation for the Development of the Private Sector (ICD) |

The Islamic Corporation for The Development of The Private Sector (ICD) and Microcreditbank Sign US$30 Million Deal to Boost Small and Medium Enterprises (SMEs) in Uzbekistan

This is the third time ICD has extended such a facility to Microcreditbank, showing its strong commitment to supporting Islamic finance and private sector development in its member countries

Third Line of Finance Agreement between ICD (http://www.ICD-ps.org) and Microcreditbank to support private sector development in Uzbekistan; Funds will be used to provide microfinance services and finance eligible private sector enterprises, especially SMEs; Agreement shows commitment to promoting Islamic finance and financial inclusion in Uzbekistan. A new US$30 million Line…

Islamic Corporation for the Development of the Private Sector (ICD)
Source: Islamic Corporation for the Development of the Private Sector (ICD) |

The Islamic Corporation for the Development of the Private Sector (ICD) and Private Joint Stock Bank "Trustbank" Partner to Provide USD 20 Million In Financing for Private Sector Businesses in Uzbekistan

This Line of Finance facility marks the third extended by ICD to Trustbank and aims to promote Islamic finance, improve financial inclusion, and support private sector development in Uzbekistan

ICD (https://ICD-ps.org) and Trustbank have signed a USD 20 million Line of Finance Agreement. The facility will be used to finance private sector businesses, with a focus on Small and Medium Enterprises (SMEs), in Uzbekistan. The Line of Finance aims to promote Islamic finance, improve financial inclusion, and support private…

Islamic Corporation for the Development of the Private Sector (ICD)
Source: Islamic Corporation for the Development of the Private Sector (ICD) |

The Islamic Corporation for the Development of the Private Sector (ICD) Sign Four Letters of Intent and Strengthen the Ties with the Private Sector Actors in Uzbekistan

The LOI came to support the commitment of IsDB Group to provide a framework for facilitating cooperation between the group entities and relevant Uzbek parties

ICD (https://ICD-ps.org) signed four Letters of Intent (LOI) with Aloqabank, Microcreditbank, Trustbank, and Turonbank in Uzbekistan for a potential Lines of Finance of USD 105 million in total; The projected Lines of Finance (LoF) will help the four banks to finance eligible private sector enterprises including SMEs in the Republic of…

Islamic Corporation for the Development of the Private Sector (ICD)
Source: Islamic Corporation for the Development of the Private Sector (ICD) |

Signing of a USD 15 Million Murabaha Facility Agreement Between The Islamic Corporation for the Development of the Private Sector (ICD) and Joint-Stock Company Joint Venture (JSC JV) “Uzbek Leasing International A.O.”

ICD has extended its fourth Murabaha financing facility to Uzbek Leasing International with the aim of promoting Islamic finance, improving financial inclusion, and supporting private sector development in Uzbekistan

ICD (www.ICD-ps.org) signed a $15 million Murabaha Facility Agreement with Uzbek Leasing International; The LoF will help financial institution to further increase on-financing to SMEs in Uzbekistan; ICD focuses on increasing access to Islamic finance by channeling funds to established financial institutions in its member countries The Islamic Corporation for…

Islamic Corporation for the Development of the Private Sector (ICD)

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    • Signing of a USD 25 Million Line of Financing Agreement between Islamic Corporation for the Development of the Private Sector (ICD) and Joint Stock Commercial Bank (JSCB) “Agrobank”
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Source: Islamic Corporation for the Development of the Private Sector (ICD) |

Signing of a USD 25 Million Line of Financing Agreement between Islamic Corporation for the Development of the Private Sector (ICD) and Joint Stock Commercial Bank (JSCB) “Agrobank”

Mr. Azamat Turaev, the Deputy Chairman of the Management Board of Agrobank praised the quality of the partnership between the two institutions

Eng. Hani Salem Sonbol, the Officer-In-Charge Chief Executive Officer of the Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-ps.org), and Mr. Azamat Turaev, the Deputy Chairman of the Management Board of Joint Stock Commercial Bank “Agrobank” (Agrobank), signed a USD 25 Million Shari’ah-compliant Line of Financing Agreement…

Islamic Corporation for the Development of the Private Sector (ICD)

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    • IsDBI and Islamic Corporation for the Development of the Private Sector (ICD) Organize Training Programs for 4 Uzbek Commercial Banks Planning to Establish Islamic Windows
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Source: Islamic Corporation for the Development of the Private Sector (ICD) |

IsDBI and Islamic Corporation for the Development of the Private Sector (ICD) Organize Training Programs for 4 Uzbek Commercial Banks Planning to Establish Islamic Windows

The training programs were delivered in the local Uzbek language from 24 January to 25 February 2022 by experienced Islamic Finance experts

Back-to-back training programs for four conventional banks on “Islamic Banking and Finance: Fundamental Concepts and Applications” have been conducted in Uzbekistan. The programs were developed by the Islamic Development Bank Institute (IsDBI) in collaboration with the Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-ps.org), the private sector…