Agreement with the ITFC
On December 13, 2021, a line of trade finance agreement for 15 million USD was signed between the Joint-Stock Commercial Bank "Invest Finance Bank" with foreign capital and the International Islamic Trade Finance Corporation (ITFC).
The trade finance line, attracted from ITFC, is aimed at providing short-term financing for replenishing working capital, as well as financing the supply of raw materials for small businesses and private entrepreneurship, as well as state-owned enterprises in the Republic of Uzbekistan on the basis of Islamic finance principles. This line of trade finance will serve to expand the offered range of banking services, accelerate the development of small business and private entrepreneurship, as well as create new jobs and provide employment for the population.
For the information: The International Islamic Trade Finance Corporation (ITFC) is a member of the Islamic Development Bank Group. The organization was created to stimulate and support knowledge exchange and cooperation among member countries in the field of Islamic finance, trade and transport facilitation. For this, the Islamic Trade and Finance Corporation, in cooperation with international and regional organizations, conducts seminars, workshops and training programs.