The Islamic Corporation for the Development of the Private Sector (ICD) has signed a landmark financing agreement with Anor Bank, providing a USD 10 million Line of Finance to support small and medium-sized enterprises (SMEs) across Uzbekistan.
The facility marks a significant milestone, positioning ICD as the first multilateral development bank to extend a Line of Finance to Anor Bank. The initiative is expected to strengthen private sector development, expand access to Islamic finance, and accelerate sustainable economic growth in the country.
The agreement was signed by Dr. Khalid Khalafallah, Acting Chief Executive Officer of ICD, and Mr. Sherzod Akramov, Chairman of the Management Board of Anor Bank. The partnership aligns with ICD’s broader strategy of empowering SMEs as a foundation for inclusive economic development across its member states.
Under the agreement, Anor Bank will deploy the funding to improve financing access for small and medium-sized enterprises, particularly through Shariah-compliant financial solutions. The initiative also supports Uzbekistan’s broader economic diversification agenda and efforts to strengthen its private sector.
Commenting on the partnership, both institutions highlighted the transaction as a strategic step toward long-term collaboration, innovation, and increased investment flows into the Uzbek economy.
Anor Bank, one of Uzbekistan’s fastest-growing digital banks, continues to expand its footprint through technology-driven financial services and a growing national presence. The bank currently operates 17 sales offices and actively promotes financial inclusion, sustainability, and literacy, especially in underserved regions.
ICD, a member of the Islamic Development Bank (IsDB) Group, provides financing and advisory services aimed at fostering private sector growth across its member countries. The institution holds strong international credit ratings, including A2 from Moody’s, A+ from Fitch, and A from S&P.
The partnership is expected to unlock new opportunities for entrepreneurs, enhance SME resilience, and support Uzbekistan’s long-term economic transformation.
