ICD, Bank Asaka Signs $7.5 Million Finance Deal

ICD Best Line of Finance partner 2018 – Asaka Bank

September 25, 2018/ICD

On behalf of the Acting CEO and General Manager of the Islamic Corporation for the Development of the Private sector (ICD) (www.ICD-ps.org), Mr. Najmul Hassan and the First Deputy Chairman of the Board of the Joint-Stock Commercial Bank “ASAKA” (Bank ASAKA), Mr. Rustam Kasimov signed a Memorandum of Understanding for up to USD 7.5 Million of Shari’ah compliant Line of Financing facility during the Islamic Development Bank Group’s Day event in Tashkent, Uzbekistan.

The USD 7.5 million Shari’ah compliant Line of Financing facility will be utilised by Bank ASAKA to provide financial support to private sector, including Small and Medium Enterprises (SME) in Uzbekistan through Islamic modes of financing.

This USD 7.5 million financing will enable the Bank to offer Shari’ah compliant products along with other banking services.

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