ESTABLISHMENT OF ISLAMIC BANKS IN UZBEKISTAN

Authors

  • Karim Kamilovich Nabiev Senior Lecturer, Department of Banking Tashkent State University of Economics

DOI:

https://doi.org/10.55640/

Keywords:

Islamic banking, Islamic finance, Mudarabah, Murabaha, Ijarah, Riba, Shariah-compliant finance.

Abstract

This article examines the legal and theoretical foundations for the establishment of Islamic banks in Uzbekistan. It analyzes the distinctive features of Islamic banking compared with conventional banking and discusses various Shariah-compliant financial instruments, including Mudarabah, Murabaha, Ijarah, diminishing partnership, and guarantee mechanisms. Particular attention is paid to contemporary scholarly views regarding service fees, binding promises, and guarantees. The article also highlights the importance of introducing Islamic banking activities in accordance with international standards and Shariah principles.

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References

1.Usmani, M. T. (2002). An Introduction to Islamic Finance. Karachi: Maktaba Ma'ariful Qur'an.

2.Ayub, M. (2007). Understanding Islamic Finance. Chichester: John Wiley & Sons Ltd.

3.Iqbal, Z., & Mirakhor, A. (2011). An Introduction to Islamic Finance: Theory and Practice. Singapore: John Wiley & Sons (Asia) Pte Ltd.

4.Islamic Financial Services Board (IFSB). (2023). Islamic Financial Services Industry Stability Report. Kuala Lumpur: IFSB.

5.Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI). (2023). Shariah Standards. Manama, Bahrain: AAOIFI.

6.The Central Bank of the Republic of Uzbekistan. (2026). Law of the Republic of Uzbekistan “On Amendments and Additions to Certain Legislative Acts of the Republic of Uzbekistan Concerning the Introduction of Islamic Banking Activities”. Tashkent, Uzbekistan.

7.International Islamic Fiqh Academy. (2000). Resolutions and Recommendations of the International Islamic Fiqh Academy. Jeddah, Kingdom of Saudi Arabia.

8.National Database of Legislation of the Republic of Uzbekistan. (2026). Law of the Republic of Uzbekistan “On Amendments and Additions to Certain Legislative Acts of the Republic of Uzbekistan Concerning the Introduction of Islamic Banking Activities”. Retrieved from https://lex.uz

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Published

2026-06-10

Issue

Vol. 5 No. 6 (2026): Journal of Multidisciplinary Sciences and Innovations

Section

Articles

License

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.

Authors retain the copyright of their manuscripts, and all Open Access articles are disseminated under the terms of the Creative Commons Attribution License 4.0 (CC-BY), which licenses unrestricted use, distribution, and reproduction in any medium, provided that the original work is appropriately cited. The use of general descriptive names, trade names, trademarks, and so forth in this publication, even if not specifically identified, does not imply that these names are not protected by the relevant laws and regulations.

How to Cite

ESTABLISHMENT OF ISLAMIC BANKS IN UZBEKISTAN. (2026). Journal of Multidisciplinary Sciences and Innovations, 5(6), 552-556. https://doi.org/10.55640/

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