ANORBANK and the Islamic Corporation for the Development of the Private Sector (ICD) agreed to create the first Islamic bank in Uzbekistan
30.04.2024ANORBANK and the Islamic Corporation for the Development of the Private Sector (ICD) agreed to create the first Islamic bank in Uzbekistan
ANORBANK takes part in the annual meetings and golden jubilee of the Islamic Development Bank Group (IsDB), in honor of the 50th anniversary of the IsDB, held in the capital of Saudi Arabia — Riyadh. As part of the events, ANORBANK and ICD agreed to jointly develop a project to create the first Islamic bank in Uzbekistan.
From April 27 to 30, the annual meetings and golden jubilee of the Islamic Development Bank Group (IsDB) are being held in Riyadh under the royal patronage of the Custodian of the Two Holy Mosques, King of Saudi Arabia, Salman bin Abdulaziz al Saud. Representatives of ANORBANK take part in the events, including delegates from international and regional financial institutions, Islamic banks, private sector companies, national and international financial development institutions, NGOs, chambers of commerce and industry and business councils.
Over the course of three days, delegates explore ways to strengthen economic relations and expand mutual cooperation. Thus, ANORBANK signed a memorandum of understanding with the Islamic Corporation for the Development of the Private Sector, according to which the bank and ICD intend to closely cooperate in studying and identifying investment opportunities and financing. In particular, ANORBANK and ICD agreed to jointly develop a project to create the first Islamic bank in Uzbekistan. The investors of the new bank, which will be created in accordance with the legislation of Uzbekistan, will be ICD, ANORBANK and other foreign investors, which will help attract foreign investment into the economy and develop international cooperation.
For reference: The Islamic Corporation for Private Sector Development (ICD) is a multilateral development finance institution that supports the economic development of its member countries. The Islamic Corporation for Private Sector Development (ICD), based in Jeddah, is part of the Islamic Development Bank (IsDB) group.
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