ITFC Extends US$75 Million Facility to Ipak Yuli Bank

Tashkent, Uzbekistan (UzDaily.uz) — The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank Group, provided a US$75 million syndicated credit line to Ipak Yuli Bank in Uzbekistan, the corporation announced. The agreement was signed in May 2026.

The financing will help the bank meet the growing demand for Sharia-compliant financial solutions in Uzbekistan's private sector. The funds will be directed to support small and medium-sized enterprises, with a portion of the facility designated for women's entrepreneurship, green financing, and food security projects, including within the SME segment.

ITFC Chief Executive Officer Adib Yusuf Al-Aama stated that Uzbekistan's private sector requires financing that helps businesses procure goods, execute trade transactions, and maintain supply chains. He added that the line for Ipak Yuli Bank provides companies with access to Sharia-compliant trade financing through an established local institution.

Farrukh Iskhakov, Deputy Chairman of the Management Board of Ipak Yuli Bank, called the agreement an important step in the bank's cooperation with ITFC and in the development of Islamic financial solutions in Uzbekistan. He noted that it gives the bank flexibility in financing businesses across the country, with an emphasis on SMEs, women's entrepreneurship, green financing, and food security.

ITFC noted that through its credit lines, the corporation works with local banks to provide access to capital for companies importing goods, maintaining supply chains, and participating in trade.

ITFC commenced operations in January 2008 and has since provided more than US$96 billion in financing to member countries of the Organisation of Islamic Cooperation.