An Islamic bank may be established in Uzbekistan with the participation of Pakistan
Pakistan's Nishat Group business group has expressed interest in the possibilities of establishing an Islamic bank and implementing an investment project in the hotel sector in Uzbekistan. At the conclusion of the negotiations, an agreement was reached to organize a visit to Uzbekistan for a delegation consisting of the company's management and specialists.
An Islamic bank may be opened in Uzbekistan with the participation of Pakistan
According to the "Dunyo" information agency, these matters were discussed during a videoconference between the Ambassador of Uzbekistan to Pakistan, Alisher Tukhtayev, and the CEO of Nishat Group, Mian Muhammad Mansha.
During the dialogue, the possibilities of implementing investment projects in the hotel business, textile industry, food processing, and Islamic finance sectors were considered.
Muhammad Mansha stated that the company owns hotels in Lahore and London, and a new hotel is scheduled to open in Islamabad in November 2026. Taking into account the development of tourism in Uzbekistan and the high demand for hotels, he indicated that implementing an investment project in this sector would be beneficial for the company.
Representatives of Nishat Group also expressed interest in studying the possibilities of establishing an Islamic bank in Uzbekistan. It was noted that the company has extensive practical experience in Islamic banking in Pakistan.
At the same time, it was announced that options for opening a separate Islamic bank based on the legislation and licensing requirements in Uzbekistan, or launching a joint banking project with local partners, would be considered.
At the conclusion of the negotiations, an agreement was reached to organize a visit of the company's leadership and specialists to Uzbekistan.
Nishat Group is one of Pakistan's largest business groups, operating in the sectors of textiles, banking and financial services, construction materials, insurance, energy, hotel business, real estate, agriculture, automotive, and aviation.
The group includes companies such as Nishat Mills Limited, MCB Bank Limited, MCB Islamic Bank Limited, D.G. Khan Cement Company Limited, Adamjee Insurance, Nishat Power Limited, Nishat Hotels and Properties, Nishat Dairy, and Hyundai Nishat Motor.