ICD Enters Into Advisory Agreement with Turonbank to Launch Islamic Window

The Islamic Corporation for the Development of the Private Sector (ICD) has signed an Advisory Services Agreement with Turonbank in Uzbekistan, whereby ICD will take on the role of advisor for the launch of an Islamic banking window at Turonbank.

The planned Islamic Window will allow Turonbank to be amongst the leading providers of Islamic products and services in Uzbekistan. According to media reports, this launch will allow Turonbank to diversify its funding sources, its product portfolio and increase its profits.

Commenting on the partnership, Ayman Amin Sejiny, Chief Executive Officer at ICD, stated that this initiative would provide Turonbank with support across a range of areas namely, accounting, human resources, information technology, as well as legal aspects...