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Islamic Finance Briefing - Categorized | Banking, Finance more

ICD, Uzbek banks sign financing deals

Posted on 11 April 2012

Khaled Al-Aboodi, chief executive officer and general manager of the Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of the Islamic Development Bank Group, signed additional Line of Financing (LOF) agreements with two banks of Uzbekistan - Ipak Yuli Bank for a $5 million facility and Uzbek Industrial and Construction Bank for $6 million - during the 37th IDB Group Annual Meeting in Sudan.
Since 2006, the ICD has signed financing agreements with seven local financial institutions for a total of $72 million LOF facility approved by the ICD board of directors for the development of small and medium enterprises (SMEs) in Uzbekistan………………………………………..Full Article: Source

 
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