Joint Venture JSC "Uzbek Leasing International A.O." takes part in the Private Sector Forum organized by the Islamic Development Bank (IDB).
In accordance with the theme of the IDB group "Partnership for Crisis Prevention", PSF focuses on "Building resilience through private partnerships". The Forum was opened with the speech by the IDB President Muhammad Al-Jazeera. "For almost half a century, the IDB Group has made tremendous efforts to support intraregional trade and investment in member countries," said Mr. Al-Jasser. The main objective of the Forum is to provide unique networking platform for partners and other leading stakeholders from the wider business community to share their best practices and success stories, as well as to promote investment and trade opportunities offered by the IDB member countries.
The Forum brought together more than 2,500 officials, politicians, heads of local and international companies, international financial organizations, chambers of commerce and industry, business associations, representatives of business communities and private investors from the IDB member countries on its platform and within the framework of bilateral meetings in the B2B and B2G format. In addition, PSF 2023 includes the exhibition for partners and competition for startups. Also, at this event, for the first time, selected outstanding organizations and personalities will be awarded by the organizations of the IDB group.
The Forum actively highlights the activities, projects, services and initiatives of the IDB Group in the member countries. One of such successful projects of the IDB Group is the cooperation of the ICD with the joint venture "Uzbek Leasing International A.O." JSC.
For information: The Islamic Corporation for the Development of the Private Sector (ICD) is one of the credit institutions of the IDB Group. The corporation was founded in 1999 in Jeddah. Its main purpose is to complement the activities of the Islamic Development Bank to support economic development by strengthening the private sector in the member countries of the organization; stimulating development in the member countries by assessing opportunities in the private sector for investment and trade and financial activities, asset management and the development of Islamic securities and debt capital markets.
ICD is a long-term reliable partner of the joint venture "Uzbek Leasing International A.O." JSC. During the period of cooperation from 2008 to 2023, ICD provided financing lines in favor of the leasing company totaling 28 million US dollars, including that in 2008 - in the amount of 1 million US dollars, in 2014 – in the amount of 5 million US dollars, in 2017 – in the amount of 7 million US dollars and in September 2022 – in the amount of 15 million US dollars.
Also, within the framework of the Agreement for Consulting Services concluded on October 12, 2022, ICD, which is the part of the IDB Group, began the introduction process of the Islamic Window leasing company. The introduction of the "Islamic Window" will allow the company to create new leasing products (Ijara, Murabaha, etc.) that comply with the Sharia law, as well as to attract customers who need such products.
