PROSPECTS FOR USING ISLAMIC FINTECH TECHNOLOGIES IN SMALL BUSINESS FINANCING IN UZBEKISTAN
DOI:
https://doi.org/10.5281/zenodo.21339281Abstract
The article explores the prospects of applying Islamic fintech technologies to small-business financing in
Uzbekistan. While global Islamic fintech transactions were estimated at USD 198 billion in 2024/25 and are projected to reach
USD 341 billion by 2029, three enabling conditions have emerged in Uzbekistan: the 2026 law introducing Islamic banking
together with tax neutrality, broad mobile-banking penetration, and strong latent demand from entrepreneurs who avoid
conventional credit for religious reasons. Based on the GIFT and IFDI reports, an analysis of national regulations and the IMAN
platform case study, the paper identifies the Islamic fintech business models suited to small-business financing (halal BNPL,
mudaraba platforms, digital sukuk, BaaS-based Islamic windows, marketplace-embedded financing), proposes a technology
model, and substantiates the implementation barriers and their national solutions.
Keywords
Islamic fintech, small business, murabaha, mudaraba, sukuk, halal BNPL, digital platform, financial inclusion, Uzbekistan.References
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