THE ROLE OF ISLAMIC COOPERATION FOR DEVELOPMENT AND UZBEK FINANCIAL INSTITUTIONS IN ISLAMIC FINANCING

Аннотация

This article explores the potential of Islamic financing in Uzbekistan, focusing on the development of Islamic financial institutions and the role of international collaboration in fostering the growth of the sector. With the country’s predominantly Muslim population, Uzbekistan should offer a promising market for Shari'ah-compliant financial products such as Sukuk, Islamic microfinance, Takaful, and Islamic investment funds. The article discusses the opportunities for Islamic financing in Some sectors such as infrastructure financing, financial inclusion, and corporate banking. It also identifies challenges, including the need for a comprehensive regulatory framework, financial literacy, and the development of necessary market infrastructure. Somewords: Islamic financing, Islamic cooperation for development, Shari'ah-Compliant Banking, Sukuk, Islamic Microfinance, Takaful, Islamic Investment Funds, Public-Private Partnerships, IslamicDevelopment Bank (IsDB), Islamicfinancing Infrastructure.