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International Islamic Trade Finance Corporation (ITFC) Extends US$ 15 million Financing Support to Private Sector in Uzbekistan [Video]

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Small Business Funding

The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-idb.org), a member of the Islamic Development Bank (IsDB) Group, has signed a trade financing agreement with Aloqabank, Uzbekistan. The agreement is in line with ITFC’s commitment to support the private sector, especially SMEs in OIC member countries in general and in Uzbekistan in particular.

Extended under the Murabaha structure, the US$ 15 Million facility will support the import and export financing needs of actors in the private sector. The facility was signed by Mr. Abdihamid Abu, ITFC’s General Manager, Trade Finance, and Ms. Kammuna Irisbekova, Chairman of the Management Board, Aloqabank.

Commenting on the agreement, Mr. Abdihamid said: “The economic potential of Uzbekistan is manifest in many aspects, but most importantly in its private and SME sectors. This underlines our commitment to supporting efforts by partners such as Aloqabank to provide growth financing for small and medium enterprises across industries in the country. We believe that this new agreement …

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