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Islamic Finance

ICD signs financing agreement with Uzbekistan’s Trustbank

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The duo plans to set up a global platform for the private sector where the two banks and community of like-minded financial entities collaborate on business opportunities, exchanging market intelligence and lay a foundation for actual financial transactions within the member countries.

Thursday 13, June 2019 BY KUDAKWASHE MUZORIWA

The Islamic Corporation for the Development of the Private Sector (ICD) has signed a $7 million loan agreement with Trustbank, to finance several industrial projects such as the production of cable-wire products, production of electronic components as well as construction and production of electronic devices.

Sardor Normukhamedov, the Chairman of the Board of the Trustbank, said, “ICD is one of the most important and significant partners of Trustbank at the international level.”

The line of finance provided by ICD also allowed Trustbank to enter a new stage in the development of international business, creating a large client base, 11 branches as well as serving the population and enterprises throughout Uzbekistan.


TAGS : ICD, Trustbank

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