June 15, 2024

ICIEC signs MoU with MKBANK to bolster trade investment

ICIEC and MKBANK strengthen bilateral cooperation to support trade and investment in Uzbekistan
ICIEC and MKBANK strengthen bilateral cooperation to support trade and investment in Uzbekistan

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a member of the Islamic Development Bank Group, and the Joint-Stock Commercial Bank “Microcreditbank” (MKBANK) have signed a Memorandum of Understanding (MoU) to bolster collaboration aimed at supporting trade, exports and investments in the Republic of Uzbekistan.

The MoU was signed by Mr. Oussama Kaissi, CEO of ICIEC, and Mr. Jumaniyazov Ikram, Deputy Chairman of the Management Board of MKBANK.


Under the arrangement, both parties will work closely to identify potential areas for collaboration, provide technical assistance, and design and implement trade and investment initiatives.

The partnership aims to further develop the Islamic financial landscape and encourage sustainable development investments in Uzbekistan. Mr. Kaissi expressed his enthusiasm for the cooperation, saying, “ICIEC is committed to strengthening the ties between our two organizations, fostering sustainable growth and boosting trade and investment in Uzbekistan. This MoU allows us to combine our efforts and expertise to promote economic development in the country.”

The Memorandum of Understanding marks a new chapter in the partnership between ICIEC and MKBANK and paves the way for a stronger, more prosperous Uzbekistan.


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