ALGIERS, Algeria, May 19. On the sidelines of the Islamic Development Bank (IsDB) Annual Meetings in Algiers, the International Islamic Trade Finance Corporation (ITFC), a member of the IsDB Group, has strengthened its partnership with JSCB Agrobank Uzbekistan and its subsidiary Smartbank by signing two key Agreements aimed at expanding Islamic financing solutions for the country’s private sector, Trend’s special correspondent reports.
The first agreement is a US$10 million Mudaraba Financing Agreement with JSCB Smartbank, a subsidiary of JSCB AgroBank. This is complemented by a second Agreement: to increase the amount of Line of Finance Facility to US$ 25 million.
These strategic agreements reflect the growing demand for Sharia-compliant financial solutions in Uzbekistan.