PROSPECTS FOR IMPLEMENTING SMART CONTRACTS AND BLOCKCHAIN SYSTEMS THROUGH ISLAMIC FINTECH PLATFORMS IN THE FINANCIAL MARKET OF UZBEKISTAN

Authors

  • Sharapova Mashkhura Azadovna Doctor of Philosophy (PhD) in Economic Sciences, Associate Professor, Department of Finance and Financial Technologies, Tashkent State University of Economics
  • Tugalov Elshod Zafar ugli 1st-year student of the Faculty of Finance, Tashkent State University of Economics

DOI:

https://doi.org/10.5281/zenodo.20078392

Keywords:

Islamic FinTech, blockchain, smart contracts, financial market, Sharia, sukuk platforms, digital transformation.

Abstract

 This article analyzes the scientific-theoretical and practical foundations of implementing Islamic FinTech platforms in the financial market of Uzbekistan. The research highlights the advantages of blockchain technology and smart contracts in the Islamic banking system, their compliance with Sharia principles, and their role in ensuring transaction transparency. Furthermore, based on international experience and national legislation, practical proposals have been developed to expand digital Islamic financial services.

References

1.Oliy Majlis of the Republic of Uzbekistan. (2026). Law of the Republic of Uzbekistan “On Non-Bank Financial Organizations and Islamic Banking”. Legislative Base of Uzbekistan (Tashkent). https://lex.uz/uz/search/nat

2.Muneeza, A., & Hassan, R. (2021). Shari’ah Governance and Digital Innovation in Islamic Finance. Palgrave Macmillan (Nyu-York, AQSH).

3.Murtazoyev, Sh.H. (2021). O‘zbekistonda islom bank tizimini joriy etishning istiqbollari va muammolari.

4.Babayev, B.A. (2022). Islomiy moliya tamoyillari asosida bank xizmatlarini rivojlantirish: xalqaro tajriba va milliy amaliyot.

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6.Al-Amine, M. A. B. M. (2019). Blockchain and Islamic Finance: Governance, Risk and Regulations. Routledge (London, Buyuk Britaniya).

7.Harris Irfan. (Tadqiqot ishi iqtibosi). The Art of Islamic Finance and Blockchain Integration.

8.Nazim, S., & Ahmad, N. (2024). Digitalization of Islamic Banking: Smart Contracts and Blockchain. Oxford University Press (Oxford, Buyuk Britaniya). pp. 112–125.

9.AAOIFI (Accounting and Auditing Organization for Islamic Financial Institutions). (2024). Financial Accounting Standard No. 42: Digital Assets and Shari'ah Compliance. AAOIFI Press (Manama, Bahrayn). https://aaoifi.com/standards

10.Central Bank of the Republic of Uzbekistan. (2025). Strategy for the Development of the Banking System until 2030 and Digital Transformation Report. CBU Press (Tashkent). https://cbu.uz/uz/statistics

11.IFSB (Islamic Financial Services Board). (2025). Islamic Financial Services Industry Stability Report. IFSB Secretariat (Kuala Lumpur, Malaysia). https://www.ifsb.org/download.php

12.DinarStandard. (2025). Global Islamic Fintech Report 2024/25. DinarStandard Research (Dubai, UAE). https://www.dinarstandard.com/reports

13.Official website of the Senate of the Oliy Majlis of the Republic of Uzbekistan -https://senat.uz/oz/post/post-4640

14.Official website of the National Agency for Promising Projects of the Republic of Uzbekistan (Agency, ILMA) - https://napp.uz/uz

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Published

2026-05-08

How to Cite

PROSPECTS FOR IMPLEMENTING SMART CONTRACTS AND BLOCKCHAIN SYSTEMS THROUGH ISLAMIC FINTECH PLATFORMS IN THE FINANCIAL MARKET OF UZBEKISTAN. (2026). International Journal of Political Sciences and Economics, 5(5), 142-149. https://doi.org/10.5281/zenodo.20078392

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