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.
