PROSPECTS FOR THE DEVELOPMENT OF ISLAMIC BANKS AND FINANCE IN UZBEKISTAN
DOI:
https://doi.org/10.5281/zenodo.22724129Abstract
This article analyzes the legal, institutional, and economic aspects of the introduction of Islamic banking and Islamic finance in Uzbekistan and is structured in accordance with the IMRAD framework. It examines the size and dynamics of the global Islamic finance market, the stages of formation of the regulatory and legal framework governing this sector in Uzbekistan, the results of cooperation with the Islamic Development Bank (IsDB), and the results of surveys conducted among the population and entrepreneurs. The analysis is presented on the basis of statistical data, tables, and diagrams. The article draws on open data from international financial institutions and organizations (IFSB, ICD-LSEG, Coalition Greenwich, Standard Chartered) and official Uzbek sources (Lex.uz, the Central Bank, Gazeta.uz, Spot.uz).Keywords
Islamic banking, Islamic finance, sukuk, mudarabah, musharakah, ijara, Islamic Development Bank, Central Bank, Uzbekistan, IFSBReferences
Central Bank of the Republic of Uzbekistan. (2024). Resolution No. 23/4 “On Approval of the Regulation on the Procedure for Providing Islamic Financing Services by Microfinance Organizations”. Adopted July 19, 2024; registered by the Ministry of Justice on July 26, 2024, Registration No. 3536. Electronic source: Central Bank of Uzbekistan
Central Bank of the Republic of Uzbekistan. (2024). The Central Bank of the Republic of Uzbekistan Has Become a Member of the Islamic Financial Services Board (IFSB). December 23, 2024. Electronic source: Central Bank of Uzbekistan
United Nations Development Programme (UNDP). (2020). Landscaping Analysis of Islamic Finance Instruments in Uzbekistan. Tashkent: UNDP Uzbekistan. Electronic source: UNDP official publication
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