SQB Awarded “Trade Finance Deal of the Year”

From May 19 to 22 of this year, during the Annual Meetings of the Islamic Development Bank (IsDB) Group held in Algiers (People’s Democratic Republic of Algeria), Uzbek Industrial and Construction Bank (SQB) was honored with the prestigious “Trade Finance Deal of the Year” award.

This award was granted in recognition of the Bank’s effective execution of trade finance operations under an agreement signed with the International Islamic Trade Finance Corporation (ITFC). SQB was selected as the best among banks and financial institutions from 57 ITFC member countries.

In accordance with the agreement, SQB facilitated financing of international and domestic trade operations for small and medium-sized enterprises in Uzbekistan based on Islamic finance principles through the Murabaha structure.

It is worth noting that the Bank’s cooperation with ITFC is aimed at actively supporting promising industrial projects, fostering a favorable entrepreneurial environment, and providing clients with services aligned with international standards.

Funds under this facility were allocated to projects in the industrial, commercial, service, and textile sectors, including the procurement of food products, pharmaceuticals, equipment, and energy-efficient goods.

This award once again demonstrates international recognition of the Bank’s activities and its growing reputation in the global financial arena.

For reference:ITFC was established in 2008 as a member of the IsDB Group and has since provided over USD 69 billion in support of sectors such as energy, agriculture, and SMEs.In Uzbekistan, ITFC also implements training programs aimed at enhancing the knowledge and qualifications of professionals in the field of Islamic finance.

Press Service of the Bank