Zood and Ipak Yuli Bank enter strategic partnership to revolutionize digital lending in Uzbekistan

• Innovative lending solutions for SMEs and consumers will encourage entrepreneurship, innovation, and socio-economic development in the country.

• · Davron Mirtursunov, Deputy Chairman of the Management Board of Ipak Yuli Bank: “The development of financial inclusion in new digital reality is a driver of economic growth and an increase in level and quality of life of people”

• · Michael Khoi, Zood Group CEO: “Our mission is to democratize access to finance and drive financial inclusion in underserved and untapped markets”

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Tashkent, Uzbekistan – 04, April 2023

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Ipak Yuli Bank and Zood (ZoodPay & ZoodMall), one of the leading digital lending platforms in Uzbekistan, announced their intention to enter into a strategic partnership to stimulate the growth of digital lending in the e-commerce sector in Uzbekistan.

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The potential collaboration will enable the Bank to leverage Zood's extensive customer base of marketplace sellers and buyers to provide a variety of banking services directly through Zood app.

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“We are excited to cooperate with Zood and use our collective power to expand financial inclusion and support the growth of e-commerce in Uzbekistan. This partnership meets our strategic priorities for expanding our digital offerings and entering new customer segments, and we are confident that this will bring significant benefits to both organizations, stakeholders, and customers,” said Davron Mirtursunov, Deputy Chairman of the Management Board of Ipak Yuli Bank.

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Commenting on the partnership, Michael Khoi, Zood Group CEO, said, "Our mission is to democratize access to finance and drive financial inclusion in underserved and untapped markets, and this partnership with Ipak Yuli Bank is a significant step forward in achieving that goal in Uzbekistan. Together, we aim to make a meaningful difference in the lives of millions of people in the country.”

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The partnership between Ipak Yuli Bank and Zood is expected to have a positive impact on the economy of Uzbekistan. By providing affordable and flexible lending solutions for SMEs and consumers, the partnership also aims to expand access to finance and encourage entrepreneurship, innovation and social and economic development.

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The Zood company offers its services in Uzbekistan, Pakistan, Iraq, and Lebanon with a total population of over 300 million people and 5 million small and medium businesses. With the ZoodMall marketplace, ZoodPay's flexible customer lending options, inventory financing solutions, and robust automated decision-making system, Zood, together with the Bank, is ready to take digital lending in Uzbekistan to the next level.