ICD Signs Advisory Services Agreement with Uzbekistan’s Orient Finans Bank, Related to Islamic Window Launch

The Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of the Islamic Development Bank Group, has signed an Advisory Services Agreement with Uzbekistan’s Orient Finans Bank in relation to the launch of an Islamic Window at the bank.

Why it Matters?

Following the Government of Uzbekistan’s recent decision to introduce Islamic financial services in the country, Orient Finans Bank has aimed to implement Islamic banking in its operation. The planned Islamic Window will open doors to the bank becoming one of the leading wholly profit-sharing Islamic Windows that offer Islamic products and services in Uzbekistan and will enable the bank to diversify its products, funding sources, as well as increase prof...