BAKU, Azerbaijan, June 24. Uzbekistan’s
InFinBank has signed an agreement with international investment
management firm SEAF (Small Enterprise Assistance Funds) to secure
a $5 million financing facility aimed at supporting small and
medium-sized enterprises (SMEs) across the country.
This was reflected in the statement by the InFinBank.
"The financing facility is being provided for a three-year term
in full compliance with Shariah principles through a Murabaha
agreement and is funded by the Economic Empowerment Fund for
Uzbekistan (EEFU)," InFinBank said in a statement.
The funds will be directed entirely toward financing SMEs,
expanding access to alternative financial instruments for Uzbek
entrepreneurs and supporting business development across various
sectors of the economy.
It was said that the initiative is expected to contribute to job
creation, strengthen private-sector activity, and promote
sustainable economic growth in the country’s regions. The financing
facility will also provide businesses with greater access to
Shariah-compliant funding solutions, an area that has attracted
increasing interest in Uzbekistan’s financial sector.
The agreement marks another step in the development of Islamic
finance in Uzbekistan, as financial institutions seek to diversify
funding sources and introduce new products tailored to the needs of
businesses and investors. Industry observers note that growing
cooperation between local banks and international financial
organizations could help accelerate the adoption of Islamic finance
instruments and broaden financial inclusion in one of Central
Asia’s fastest-growing economies.
