ICD Inks USD 15 Million Murabaha Facility with Uzbek Leasing International to Support Private Sector Activities
September 21, 2022
The Islamic Corporation for the Development of the Private Sector (ICD) has announced the signing of a Murabaha Facility Agreement worth USD 15 Million with Joint-Stock Company Joint Venture Uzbek Leasing International for the company to finance private sector businesses, particularly Small and Medium Enterprises (SMEs) in Uzbekistan, as per a release issued on the 15th of September 2022.
Why it Matters?
The line of financing represents the fourth Murabaha financing facility extended by ICD to Uzbek Leasing International. Three lines of funding worth a combined USD 13 million were extended to the company in 2007, 2014, and 2017, allowing the financial institution to fund 36 new projects across a range of economic sectors and generated more than 1000 ne...