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Visit of ICD Representative to Uzbek Leasing International A.O.

On October 8, 2025, a working meeting was held at the office of Uzbek Leasing International A.O. with the representative of the Islamic Corporation for the Development of the Private Sector (ICD) — Mr. Islam Badran, Head of the Compliance and Legal Department.

The visit took place within the framework of the current ICD financing line agreement and was dedicated to assessing the company’s corporate governance practices and compliance with international standards in the areas of compliance and risk management.

During the dialogue, the parties discussed the following topics:
  • the structure and independence of the compliance function, its accountability to the Board of Directors, and the involvement of senior management in setting compliance priorities;
  • implementation of AML/KYC procedures (anti-money laundering / know your customer), including comprehensive and enhanced due diligence of clients, identification of ultimate beneficial owners, as well as risk classification approaches and maintenance of client files;
  • sanctions compliance mechanisms, covering both automated and manual screening against UN, OFAC, EU, and local regulatory lists;
  • interaction with supervisory authorities, including an analysis of recent regulatory developments, the nature of inspections, and the processing of regulatory feedback;
  • the structure of the compliance program, staffing, personnel training, and the involvement of internal and external auditors in its evaluation;
  • management of non-compliance risks, including incident identification and escalation, monitoring of violations, and current priority risks beyond AML/KYC scope.
Representatives of Uzbek Leasing International A.O. also presented an overview of the company’s activities, its role in the development of Uzbekistan’s financial sector, and its participation in the Leasing Association of Uzbekistan. Particular attention was given to initiatives aimed at enhancing transparency, strengthening business process sustainability, and improving corporate governance practices.