Uzbek Oman Investment Company (UzOman) has invested in the Uzbekistan operations of digital lending platform Zood.
Switzerland-based Zood provides financial solutions in Uzbekistan, Pakistan, Iraq and Lebanon.
UzOman is a JV formed by two wealth funds, namely the Oman Investment Authority (OIA) and the Uzbek Fund for Reconstruction and Development of Uzbekistan (UFRD). The funds did not disclose details of the investments made in Zood.
Mohamed Al Lawati, CEO of UzOman, said: “This investment is part of our ongoing efforts to promote and invest in Uzbekistan's rapidly growing financial sector."
Zood has offices in 10 locations worldwide. It serves more than 10mn users.
ZoodPay, Zood’s fintech arm, offers lending solutions.
Related Articles
Egypt and Russia finalise key agreements for Dabaa Nuclear Power Plant
Egypt has signed an agreement with Russia’s Rosatom to secure the nuclear fuel supply for Unit 1 of the Dabaa Nuclear Power Plant, Al Ahram reported on November 19. Officials said the agreement ... more
Egypt launches international bid round for gas exploration in Red Sea
Egypt’s Ministry of Petroleum and Mineral Resources has launched a new international bid round for oil and gas exploration in four offshore blocks in the Red Sea, according to Al Youm Al Sabea, ... more
BP expands gas output in Egypt’s West Nile Delta with new well start-up
British energy major BP (LSE, NYSE:BP) has started up the RW5 gas well in Egypt’s West Nile Delta (WND) project, adding around 80mn cubic feet per day of additional supply, Al Mal reported on ... more
Most Read
-
The birth of a Kazakh banking empire: ATF Bank
3 years ago
-
India’s smart metering push gains momentum
4 months ago
-
The birth of a Kazakh banking empire: ATF Bank
3 years ago