Islamic Corporation to provide a financing line to Uzbek “Trustbank”

Beijing. Jul 11. Silkroadnews - The Islamic Corporation for the Development of the Private sector will provide a financing line to the Uzbek “Trustbank”, the Uzbek Telegraph Agency (UzTAG) reports.
Within the framework of the official visit of the delegation of the private joint-stock bank Trustbank to Jeddah (Saudi Arabia), headed by the Chairman of the Board Sardor Normukhamedov, an agreement between Trustbank and the Islamic Corporation for the Development of the Private sector to provide a financing line was signed on July 9, 2018, the press service of the Uzbek bank said.
The purpose of the agreement is the development of small businesses and private entrepreneurship of Uzbekistan through the acquisition of technological equipment and fixed assets.
Under the terms of the agreement, the submitted projects must comply with the Shari’ah principles, the report says.
It is planned that the financing line will serve to expand the volume of banking services, accelerate the development of small businesses and private entrepreneurship, as well as create new jobs and provide employment for the population.