Islamic Trade Finance Workshop in Uzbekistan

TEHRAN (IQNA) – The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank Group, Ministry for Foreign Trade of the Republic of Uzbekistan and United Nations Development Program (UNDP) in Uzbekistan have come together for the first trade finance workshop titled “Trade Finance as a Key Factor in Trade Promotion.”

“ITFC is aspiring to play a pivotal role in the development of Islamic trade finance in Uzbekistan,” said Nazeem Noordali, chief operating officer, ITFC, according to Arab News.

“ITFC and the government of Uzbekistan signed a $100 million framework agreement to finance pre-export and import activities in the country,” he said.

Noordali added that ITFC is gearing up to work with its partners, namely, the UNDP and Turk Eximbank to promote Islamic trade finance among the Uzbek banks and non-banking financial institutions,”.