Tashkent, Uzbekistan (UzDaily.com) — During the Tashkent International Investment Forum, Uzbekistan unveiled a new US$100 million investment platform — the Empowering Economic Opportunities Fund of Uzbekistan (EEFU) — aimed at expanding access to finance for small and medium-sized enterprises (SMEs) through Islamic (halal) financial instruments.

The fund is managed by the international investment firm SEAF and is backed by major financial institutions including the Islamic Development Bank Group, the Saudi Fund for Development, and Uzbekistan’s Fund for Reconstruction and Development.

Speaking at the forum, SEAF Managing Director Jan Cherim emphasized the vital role of SMEs as the backbone of any economy, highlighting their contributions to job creation, innovation, and economic dynamism.

Cherim also noted the growing interest in Islamic finance products across Uzbekistan, underscoring the importance of further developing this segment to meet demand.

The EEFU Fund will operate in compliance with Shariah principles and channel its resources through Uzbekistan’s banking system, with a focus on fostering inclusive, ethical, and sustainable growth for the country’s SME sector.