Leading Malaysian bank is interested in cooperation with commercial banks of Uzbekistan on financing joint projects

The Ambassador of Uzbekistan Karomiddin Gadoev met with the President and CEO of ‘‘Export-Import Bank of Malaysia’’ Nurbay binti Kasim Chang, the correspondent of ‘‘Dunyo’’ news agency reports.

The meeting discussed the prospects for allocating financial resources to commercial banks of Uzbekistan and establishing mutually beneficial cooperation.

Nurbayu binti Kasim Chang noted that she sees great potential in Uzbekistan. Reforms in the country aimed at radically improving the investment environment and creating favorable conditions for investors are already yielding positive results.

The parties discussed the potential for cooperation with financially stable state and private banks that meet international ratings and standards.

Given the extensive experience of ‘‘Export-Import Bank of Malaysia’’ in the field of Islamic banking in recent years, the advantages of entering the Islamic banking and insurance (takaful) market in the financial sector of Uzbekistan were discussed.

The bank’s management also announced that it would hold a separate meeting with Malaysian companies planning to invest in Uzbekistan. The meeting will analyze each of the proposals in detail, and also examine the issue of providing financial resources on favorable terms.

‘‘Export-Import Bank of Malaysia’’ was established on August 29, 1995 under the auspices of the Ministry of Finance with the aim of promoting investment and exports in strategic industries, as well as facilitating the entry of Malaysian companies into new markets.

As of 2023, the bank’s total assets amounted to $1.35 billion, total loans and financial assets – $1.07 billion, of which $707 million (66%) are conventional financial assets, and $363 million (34%) are Islamic financial assets. Currently, the bank’s financial services cover 53 countries around the world.