The documents were signed within the 39th IDB Group Annual Meeting in Jeddah, Saudi Arabia, on 25 June 2014.

The ICD signed memorandums with Open joint stock innovative commercial bank “Ipak Yoli” and Open joint stock commercial bank “Asia Alliance Bank”. The documents are directed at expanding cooperation between the ICD and Uzbek banks, as well as support small and private businesses in Uzbekistan.

The Islamic Corporation for the Development of the Private Sector (ICD) is a multilateral organization, affiliated with the Islamic Development Bank (IDB) Group. Its shareholders are the IDB, 45 Islamic member countries, and 5 public financial institutions from member countries. ICD was established by the IDB Board of Governors during their 24th annual meeting held in Jeddah in November 1999. The head office of ICD is in Jeddah, Kingdom of Saudi Arabia. Uzbekistan joined ICD in 2004.