Trustbank inks agreement with Islamic Corporation for Development of Private sector

On July 9, 2018, during the official visit of the delegation of the Private Joint Stock Bank “Trastbank” in Jeddah city (Saudi Arabia), headed by the Chairman of the Board Sardor Normukhamedov, between the Private Joint Stock Bank “Trustbank” and the Islamic Corporation for the Development of the Private sector, the Agreement was signed on the provision of the financing line.

The signing of this Agreement is the important event in strengthening cooperation with international financial institutions for the implementation of priorities identified in the Action Strategy on five priority directions of development of the Republic of Uzbekistan in 2017-2021 and the Decree of the President of the Republic of Uzbekistan dated December 20, 2017 No. PP-3439 "On measures for  further improvement of cooperation with international and foreign financial institutions."

The purpose of the Agreement is the development of small businesses and private entrepreneurship of the Republic of Uzbekistan through the acquisition of technological equipment and fixed assets.

Under the terms of the contract, the submitted projects should comply with the Sharia law.

Undoubtedly, the allocated financing line shall serve to expand the volume of banking services, accelerate the development of small business and private entrepreneurship, as well as create new jobs and provide employment.

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