ICD and JSC “KapitalBank” Cooperate to Finance SMEs in Uzbekistan

The Islamic Corporation for the Development of the Private Sector (“ICD”) (www.ICD-ps.org), the private sector arm of IDB Group, and JSC “KapitalBank” (www.KapitalBank.uz) have entered into a Joint Strategic Collaboration to finance SMEs in Uzbekistan.

The CEO of ICD, Mr. Khaled Al-Aboodi, and Mr. Sherzod Karimbaev Deputy Chairman of the Management Board of JSC “KapitalBank”, signed the financing agreement for the amount of USD8 million during the IDB 42nd Annual Meeting.

The collaboration will focus on developing private sector especially SMEs, supporting economy, strengthening the balance sheet of the Bank, improving the living standard of the population by creating jobs, generating tax revenues for the government and promoting Islamic Banking in the country.

Mr. Khalid Al-Aboodi, CEO of ICD stated, “Uzbekistan is a one of our member countries and ICD has been successfully engaging with local banks to help the local SMEs and strengthen the economy. We are pleased to extend a line of financing facility to Kapital Bank which will be enhancing the impact of socio-economic development.”

Mr. Sherzod Karimbaev said, “We are delighted about this partnership with ICD and Kapital Bank. Through this partnership we are further committed to provide professional provision of wide spectrum of banking services which conform to the business needs of customers while promoting private entrepreneurship in the Republic of Uzbekistan.”

Distributed by APO on behalf of Islamic Corporation for the Development of the Private Sector (ICD).

Source:: ICD and JSC “KapitalBank” Cooperate to Finance SMEs in Uzbekistan

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ICD and JSC “Asia Alliance Bank” Cooperate to Finance SMEs in Uzbekistan

The Islamic Corporation for the Development of the Private Sector (“ICD”) (www.ICD-ps.org), the private sector arm of IDB Group, and JSC “Asia Alliance Bank” (www.AAB.uz) have entered into a Joint Strategic Collaboration to finance SMEs in Uzbekistan. The signing ceremony took place at Hotel Hilton in Jeddah during the IDB 42nd Annual Meeting.

Mr. Khaled Al-Aboodi CEO of ICD and Mr. Khakimov Umid, First Deputy Chairman of JSC “Asia Alliance Bank”, signed the financing agreements for the amount of USD12 million.

The collaboration will focus on developing private sector especially SMEs, supporting economy, strengthening the balance sheet of the Bank, improving the living standard of the population by creating jobs, generating tax revenues for the government and promoting Islamic Banking in the country.

Mr. Khalid Al-Aboodi, CEO of ICD stated “ICD has been successfully engaging with local banks in Uzbekistan to strengthen the SMEs. We are pleased to extend the next line of financing facility to Asia Alliance Bank which will enhancing the impact of socio-economic development.”

Mr. Khakimov Umid said, “Asia Alliance Bank is committed to further strengthen its position in the Uzbek banking sector as a reliable, modern credit institution, providing a wide range of banking services and support SMEs in Uzbekistan. We are delighted about this partnership with ICD and Asia Alliance Bank. Through this partnership we aim to provide further support to enterprises in Uzbekistan to achieve their highest potentials.”

Distributed by APO on behalf of Islamic Corporation for the Development of the Private Sector (ICD).

Note for Editors

About JSC “Asia Alliance Bank”

The Bank is a privately owned universal commercial bank which carries out all kinds of banking operations represented in financial services market including servicing of private and corporate clients. Its principal activities are commercial and retail banking operations, transaction with foreign currencies, origination of loans, guarantees and letters of credit. Further information can be found at www.AAB.uz

Media Inquiries
Mr. Mansur Avchiev
email: Mansur.avchiev@aab.uz
fax: +998 71 289 55 33
tel: +998 71 231 60 29

About the Islamic Corporation for the Development of the Private Sector

ICD (www.ICD-ps.org) is a multilateral organization and a member of the Islamic Development Bank (IDB) Group. The mandate of ICD is to support economic development and promote the development of the private sector in its member countries through providing financing facilities and/or investments which are in accordance with the principles of Shari’ah. ICD also provides advice to governments and private organizations to encourage the establishment, expansion and modernization of private enterprises. ICD is rated AA/F1+ by Fitch and Aa3/P1 by Moody’s. For more information visit www.icd-ps.org

Media Inquiries
Mr. Nabil El Alami
Email: nalami@isdb.org
Fax: +966 12 6444427
Tel: +966 12 6468192

Source:: ICD and JSC “Asia Alliance Bank” Cooperate to Finance SMEs in Uzbekistan

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ICD and JSC “Asia Alliance Bank” Cooperate to Finance SMEs in Uzbekistan

The Islamic Corporation for the Development of the Private Sector (“ICD”) (www.ICD-ps.org), the private sector arm of IDB Group, and JSC “Asia Alliance Bank” (www.AAB.uz) have entered into a Joint Strategic Collaboration to finance SMEs in Uzbekistan. The signing ceremony took place at Hotel Hilton in Jeddah during the IDB 42nd Annual Meeting.

Mr. Khaled Al-Aboodi CEO of ICD and Mr. Khakimov Umid, First Deputy Chairman of JSC “Asia Alliance Bank”, signed the financing agreements for the amount of USD12 million.

The collaboration will focus on developing private sector especially SMEs, supporting economy, strengthening the balance sheet of the Bank, improving the living standard of the population by creating jobs, generating tax revenues for the government and promoting Islamic Banking in the country.

Mr. Khalid Al-Aboodi, CEO of ICD stated “ICD has been successfully engaging with local banks in Uzbekistan to strengthen the SMEs. We are pleased to extend the next line of financing facility to Asia Alliance Bank which will enhancing the impact of socio-economic development.”

Mr. Khakimov Umid said, “Asia Alliance Bank is committed to further strengthen its position in the Uzbek banking sector as a reliable, modern credit institution, providing a wide range of banking services and support SMEs in Uzbekistan. We are delighted about this partnership with ICD and Asia Alliance Bank. Through this partnership we aim to provide further support to enterprises in Uzbekistan to achieve their highest potentials.”

Distributed by APO on behalf of Islamic Corporation for the Development of the Private Sector (ICD).

Note for Editors

About JSC “Asia Alliance Bank”

The Bank is a privately owned universal commercial bank which carries out all kinds of banking operations represented in financial services market including servicing of private and corporate clients. Its principal activities are commercial and retail banking operations, transaction with foreign currencies, origination of loans, guarantees and letters of credit. Further information can be found at www.AAB.uz

Media Inquiries
Mr. Mansur Avchiev
email: Mansur.avchiev@aab.uz
fax: +998 71 289 55 33
tel: +998 71 231 60 29

About the Islamic Corporation for the Development of the Private Sector

ICD (www.ICD-ps.org) is a multilateral organization and a member of the Islamic Development Bank (IDB) Group. The mandate of ICD is to support economic development and promote the development of the private sector in its member countries through providing financing facilities and/or investments which are in accordance with the principles of Shari’ah. ICD also provides advice to governments and private organizations to encourage the establishment, expansion and modernization of private enterprises. ICD is rated AA/F1+ by Fitch and Aa3/P1 by Moody’s. For more information visit www.icd-ps.org

Media Inquiries
Mr. Nabil El Alami
Email: nalami@isdb.org
Fax: +966 12 6444427
Tel: +966 12 6468192

Source:: ICD and JSC “Asia Alliance Bank” Cooperate to Finance SMEs in Uzbekistan

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ICD and JSC “Uzbek Leasing Int.” Cooperate to Finance SMEs in Uzbekistan

The Islamic Corporation for the Development of the Private Sector (“ICD”) (www.ICD-ps.org), the private sector arm of IDB Group, and JSC “Uzbek Leasing Int.” (www.UzbekLeasing.com) have entered into a Joint Strategic Collaboration to finance SMEs in Uzbekistan.

Mr. Khaled Al-Aboodi, CEO of ICD, and Mr. Zafar Mustafaev, CEO of JSC “Uzbek Leasing Int.” signed the financing agreement for the amount of USD7 million during IDB 42nd Annual Meeting which took place at Hotel Hilton Jeddah.

The collaboration will focus on developing private sector especially SMEs, supporting economy, strengthening the balance sheet of the Bank, improving the living standard of the population by creating jobs, generating tax revenues for the government and promoting Islamic Banking in the country.

Mr. Khalid Al-Aboodi, CEO of ICD stated: “Uzbekistan is a key partner for ICD and we hope to scale up the cooperation with the Uzbekistani government and the private sector actors. This MoU will pave the way for ICD and strengthen its will to finance the private sector in the country and help SMEs achieve their objectives and have a better impact on the local economy.”

Mr. Zafar Mustafaev said, “We are delighted about this partnership with ICD and Uzbek Leasing International. Through this partnership we are further committed to empower growth and innovation by bringing modern technologies in the priority sectors of Uzbek economy.”

Distributed by APO on behalf of Islamic Corporation for the Development of the Private Sector (ICD).

Note for Editors

About JSC “Uzbek Leasing Int.”

The Company principal activity is providing finance leases to industrial companies within the Republic of Uzbekistan. The Company had 45 employees as at 31 December 2015 (31 December 2014: 48 employees). The Company has 7 representatives in most of the regions: Khorezm,Namangan, Samarkand, Nukus, Bukhara, Navoi, Kashkadarya (jointly with Surkhandarya). Tashkent and Tashkent Region are regulated by ULI Head Office. Further information can be found at www.UzbekLeasing.com

Media Inquiries
Mr. Artur Mikaelyan
email: arthur.mik@gmail.com
fax: (+998 71) 140-37-74
tel: (+998 71) 140-77-44

About the Islamic Corporation for the Development of the Private Sector

ICD (www.ICD-ps.org) is a multilateral organization and a member of the Islamic Development Bank (IDB) Group. The mandate of ICD is to support economic development and promote the development of the private sector in its member countries through providing financing facilities and/or investments which are in accordance with the principles of Shari’ah. ICD also provides advice to governments and private organizations to encourage the establishment, expansion and modernization of private enterprises. ICD is rated AA/F1+ by Fitch and Aa3/P1 by Moody’s. For more information visit www.icd-ps.org

Media Inquiries
Mr. Nabil El Alami
Email: nalami@isdb.org
Fax: +966 12 6444427
Tel: +966 12 6468192

Source:: ICD and JSC “Uzbek Leasing Int.” Cooperate to Finance SMEs in Uzbekistan

Categories: AFRICA | Tags: | Leave a comment