Meeting between Uzbek Leasing International A.O. and the Islamic Corporation for the Development of the Private Sector
On September 14, 2026, a working meeting was held between representatives of Uzbek Leasing International A.O. and a delegation of the Islamic Corporation for the Development of the Private Sector (ICD) during the Corporation’s visit to Uzbekistan.
Representing ICD, the meeting was attended by Mr. Mohammad Kamran Mohammad Rafiq, General Manager, Risk Management Department, and Ms. Duygu Uyanik, Principal, Portfolio Management.
The Islamic Corporation for the Development of the Private Sector (ICD) (
https://www.icd-ps.org/?utm_source=chatgpt.com) is a multilateral international financial institution and a member of the Islamic Development Bank (IsDB) Group. Established in 1999, the Corporation operates in 56 countries, supporting private sector development through investment project financing, capital mobilization, and advisory services. ICD places particular emphasis on the development of Islamic finance and the implementation of financial instruments compliant with Shariah principles.
During the meeting, the parties discussed the current status and prospects for further cooperation, risk management matters, the current state of the leasing portfolio, Uzbek Leasing’s performance, and key areas for further collaboration. Particular attention was paid to the current state and development prospects of the leasing market in Uzbekistan.
???? Long-standing partnership and financing
Since 2008, as part of its successful cooperation with ICD, Uzbek Leasing International A.O. has attracted four credit lines totaling USD 28 million. The company is also currently expecting a fifth financing facility from ICD in the amount of USD 5 million, which will be directed toward further development of Islamic financial products.
With ICD’s support, Uzbek Leasing established an “Islamic Window” in 2022 and launched Islamic financial products based on Ijarah and Murabaha. As part of the project, ICD provided technical assistance and organized training for the company’s employees on the principles and instruments of Islamic finance.
The knowledge gained and expert support enabled Uzbek Leasing to expand its product offering, provide clients with modern financial solutions compliant with Shariah principles, and strengthen its position in the Islamic finance market.
During the meeting, the parties also exchanged views on the prospects for further development of leasing finance, expansion of the product offering, and new opportunities to strengthen mutually beneficial cooperation.
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