ORGANISATIONAL AND LEGAL FOUNDATIONS FOR THE DEVELOPMENT OF ISLAMIC FINANCE IN UZBEKISTAN
DOI:
https://doi.org/10.5281/zenodo.23374675Abstract
This article examines the organisational and legal foundations for the development of Islamic finance, international standards governing Islamic financial institutions, Islamic finance principles, as well as regulatory developments within Uzbekistan’s national legal framework. The study also explores opportunities for the further development of Islamic finance within the national economy. Based on the findings, the article highlights the importance of strengthening Islamic financial infrastructure, enhancing the legal and regulatory framework, and incorporating relevant international standards to support the sustainable development of the sector. The analysis provides a basis for formulating conclusions and practical recommendations aimed at improving the institutional environment and supporting the effective functioning of the Islamic financial system.Keywords
Islamic finance, Islamic banking, Islamic banking window, Governance of compliance with Islamic finance principles, AAOIFI, IFSB, sukuk, takaful, murabaha, mudarabah, prudential supervision, institutional modelReferences
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