ISSUES OF THE GRADUAL INTRODUCTION OF ISLAMIC FINANCE INTO THE BANKING SYSTEM OF UZBEKISTAN
Keywords:
Murabaha, Mudaraba, Sukuk, Murabaha, risk, riba, gharar, Islamophobia, “Islamic banking window,” Islamic Development Bank.Abstract
This article discusses Islamic finance, a system that emerged in the global financial landscape nearly 14 centuries ago but is only now being introduced into the financial market of Uzbekistan. Islamic finance differs from the conventional financial system due to its emphasis on fairness, adherence to “halal” principles, and equitable risk-sharing. The article examines the challenges, shortcomings, and ongoing efforts related to the implementation of this system in Uzbekistan’s financial sector.
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References
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