Multidisciplinary Journal of Science and Technology

ISLAMIC FINANCE DEVELOPMENT ISSUES IN UZBEKISTAN

Abdukarimov Abdujalil

The teacher of Kimyo International University in Tashkent

Keywords: Islamic finance, islamic banking, islamic financial instruments, takaful, sukuk, murabaha, riba, maysir, gharar.

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Abstract

The article discusses the features of the development of the Islamic banking sector, the principles of the Islamic financial institutions, as well as financial instruments that are used within the Islamic financial system. The distinctive features of Islamic and traditional banks are analyzed and the current state of development of Islamic finance in the global economy was studied. In addition, the main directions of the development of Islamic finance in the Republic of Uzbekistan are presented.

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References

[1]ICD-REFINITIV Islamic Finance Development Report 2022

[2] Decree of the president of the Republic of Uzbekistan "On the strategy of Uzbekistan — 2030" dated September 11, 2023 No. 158 DP-158

[3] Muhammad Taqi Usmani “an Introduction to Islamic finance” Study guide. 2021 y. page 6

[4]https://www.internationalinvestor.com/chile/sectors/metals-mining/ps_if_projected-growth-of-islamic-finance-assets-to-2021/

[5] Astanakulov O. Islom moliya asoslari: taraqqiyot bosqichlari, istiqbollari. “Iqtisodiyot va innovatsion texnologiyalar” ilmiy elektron jurnali. №5, sentyabr-oktyabr, 2021 y.

[6] https://cyberleninka.ru/article/n/islom-moliyasi-va-banki

[7] Compiled by the author

[8] ICD-REFINITIV Islamic Finance Development Report 2022

[9] Analysis of Islamic Financing Instruments in Uzbekistan” –UNDP Survey conducted in 2022

[10] https://alhudacibe.com/pressrelease

[11] https://www.isdb.org/uzbekistan

[12]https://m.kun.uz/en/news/2020/08/04/uzbekistan-can-become-a-cis-leader-in-islamic-finance