Signing of the advisory services agreement between ICD and Orient Finans Bank, Uzbekistan

Mr. Ayman Amin Sejiny, the CEO of the Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of the Islamic Development Bank Group (IsDBG), and Mr. Tokhir Djunaydullaev, Chairman of the Board of Orient Finans Bank, signed an Advisory Services Agreement in relation to launching of an Islamic Window at the Bank.

Recently, the Uzbek Government decided to introduce Islamic financial services in Uzbekistan. Accordingly, Orient Finans Bank aimed to implement Islamic banking in its operation. The intended Islamic Window will create an opportunity for Orient Finans Bank to be one of the foremost wholly profit-sharing Islamic Windows, offering Islamic products and services in Uzbekistan. As a result, the Bank will diversify its products, funding sources and increase its profits.

Read more here