In Tashkent, on November 12, in the course of a meeting between leaders of the International Islamic Trade and Finance Corporation (ITFC), which is a member of the Islamic Development Bank Group (IDB), and the Private Joint-Stock Bank “Trustbank”, an agreement was signed on the allocation of $ 4 million on “Financing Line”.
This agreement became an important step in the implementation of projects aimed at intensive socio-economic development of the country, consistently strengthening the cooperation between foreign and international financial institutions, which are defined in the Presidential Decrees of Uzbekistan “On measures for further development and maintenance of banking system of the Republic” on September 12, 2017 and “On measures to further improve the effectiveness of cooperation with international and foreign financial institutions” on December 17, 2017.
Purpose of this “Financing Line” is to support trading operations with a validity of up to 1 year.
“Today’s signed agreement will create opportunities for mutually beneficial cooperation between two organizations in the field of trade financing for the interests of small business,” Sardor Normukhamedov, Chairman of the Board of PJSB “Trustbank” said.
It should be recalled that on July 9, 2018, Private Joint-Stock Bank “Trustbank” and the Islamic Corporation for the Development of the Private Sector signed an agreement on financing.