EBRD: JSCMB “Ipoteka-Bank” – Most Active Issuing Bank in Uzbekistan
On June 4, the EBRD Trade Facilitation Programme (TFP) announced the winners of its prestigious annual TFP Awards. JSCMB “Ipoteka-Bank” received the award as the most active issuing bank in Uzbekistan. With this award, the EBRD recognizes the bank’s special achievements in financing international trade, as well as appreciates the activity and quality of the bank’s trade finance services.
JSCMB “Ipoteka-Bank” for a relatively short period of time managed to take a leading position in Uzbekistan market in trade finance, providing the maximum list of opportunities to its customers.
JSCMB “Ipoteka-Bank” pays special attention to trade finance, as it makes a significant contribution to the growth of economic activity of business.
Development of this direction is extremely important for the business community of the country, especially during this difficult time, since the tools used in trade finance provide effective solutions to support the foreign economic activity of business entities – bank customers.
The 2020 TFP Awards honour those successful issuing and confirming banks that have been most active in delivering EBRD financing across its countries of operations over the past year, and include a bank that has attained academic excellence by training its employees in EBRD’s capacity development programmes.
On the announcement of the TFP Awards, Francis Malige, EBRD Managing Director, Financial Institutions said: “Trade finance is key to boosting economic development and growth across the EBRD’s regions of operations. Our partner banks help to make this happen, by providing the financial means and support that allow companies to identify, explore and conquer new markets. Through our annual TFP awards, we are proud to recognise the achievements of partner banks in 27 countries, who are making a real impact and creatively use EBRD’s financing products to support international trade”.
The award ceremony for the TFP Awards was scheduled to take place at the EBRD Annual Meeting and Business Forum in May 2020, which was cancelled due to the Covid-19 pandemic.
JSCMB “Ipoteka-Bank” is one of the largest banks in Uzbekistan. It has an extensive regional network and is one of the largest suppliers of modern banking products. Development of international cooperation has always been one of the priorities of the bank. There are more than 30 financial institutions around the world among its partners. Thanks to such cooperation, the bank is able to provide its customers with a full range of services in trade finance.
Launched in 1999, the EBRD’s Trade Facilitation Programme aims to promote foreign trade to, from and among the countries in which the EBRD invests. Through the programme, the EBRD provides guarantees to international confirming banks and short-term loans to selected banks and factoring companies for on-lending to local exporters, importers and distributors. The TFP currently includes over 120 issuing/partner banks in 30 economies, with limits exceeding €5 billion in total and more than 800 confirming banks worldwide.