InFinBank attracts ICD funds for US$7m
Tashkent, Uzbekistan (UzDaily.com) --
The Acting Chief Executive Officer of the Islamic Corporation for the Development of the Private sector (ICD), Mr. Najmul Hassan and the Chairman of the Management Board of the Joint-Stock Commercial Bank Invest Finance Bank (InFinBank), Mr. Bobir Burkhanov signed a Line of financing agreement for a US$ 7 million facility at the ICD’s head office in Jeddah.
The US$million Shari’ah compliant Line of Financing facility will be utilised by InFinBank to provide financial support to private sector, including Small and Medium Enterprises (SME) in Uzbekistan through Islamic modes of financing.
This US$ 7 million financing is a first Shariah compliant Line facility for InFinBank, which will enable the Bank to offer Shariah compliant products along with other banking services.