Ipak Yuli Bank is expanding its cooperation with the International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IsDB) Group. Under the signed agreement, the total financing line has been increased to $75 million. The attracted funds will be directed toward supporting trade operations of entrepreneurs in Uzbekistan in accordance with Sharia principles, primarily focusing on small and medium-sized enterprises.

Through these resources, Ipak Yuli Bank will be able to finance both international trade operations of its clients and domestic purchases within the country, including the acquisition of raw materials, equipment, components, and goods.

Financing will be provided through the Islamic trade finance instrument “Murabaha.” This instrument enables entrepreneurs to obtain targeted financing for specific trade contracts, increasing the transparency and predictability of settlements with both international and local suppliers.

The increase in the financing line strengthens the long-term partnership between Ipak Yuli Bank and ITFC and reflects the growing demand for Islamic financial products in Uzbekistan.

The expanded financing line contributes to the development of support for entrepreneurs’ trade operations, promotes export diversification, supports import-substituting production, and facilitates the integration of Uzbek businesses into international trade flows.

Implementation of the agreement will contribute to private sector development and sustainable economic growth in the country.

About ITFC

The International Islamic Trade Finance Corporation (ITFC) is an autonomous entity within the Islamic Development Bank (IsDB) Group, headquartered in Jeddah, Saudi Arabia, and operating since 2008. The Corporation consolidates the trade finance operations of the IsDB Group and is a leading provider of trade finance solutions for member countries of the Organisation of Islamic Cooperation (OIC). ITFC’s mandate is to promote trade among OIC member countries and enhance their trade potential.