{"id":9039,"date":"2025-09-15T17:49:48","date_gmt":"2025-09-15T12:49:48","guid":{"rendered":"https:\/\/frank.uz\/bez-kategorii\/uzbekistan-is-preparing-a-law-on-islamic-banking\/"},"modified":"2025-09-15T17:49:48","modified_gmt":"2025-09-15T12:49:48","slug":"uzbekistan-is-preparing-a-law-on-islamic-banking","status":"publish","type":"post","link":"https:\/\/frank.uz\/en\/news-en\/uzbekistan-is-preparing-a-law-on-islamic-banking\/","title":{"rendered":"Uzbekistan is preparing a law on Islamic banking"},"content":{"rendered":"<p><strong>Why is this important<\/strong><\/p>\n<p>\u0423\u0434\u043e\u0432\u043b\u0435\u0442\u0432\u043e\u0440\u0438\u0442 \u0440\u0435\u043b\u0438\u0433\u0438\u043e\u0437\u043d\u044b\u0435 \u043f\u0440\u0435\u0434\u043f\u043e\u0447\u0442\u0435\u043d\u0438\u044f \u043d\u0430\u0441\u0435\u043b\u0435\u043d\u0438\u044f \u0438 \u0431\u0438\u0437\u043d\u0435\u0441\u0430: \u043c\u043d\u043e\u0433\u0438\u0435 \u043d\u0435 \u0438\u0441\u043f\u043e\u043b\u044c\u0437\u0443\u044e\u0442 \u043e\u0431\u044b\u0447\u043d\u044b\u0435 \u0431\u0430\u043d\u043a\u043e\u0432\u0441\u043a\u0438\u0435 \u0443\u0441\u043b\u0443\u0433\u0438 \u0438\u0437\u2011\u0437\u0430 \u0443\u0431\u0435\u0436\u0434\u0435\u043d\u0438\u0439. \u041c\u043e\u0436\u0435\u0442 \u043f\u0440\u0438\u0432\u043b\u0435\u0447\u044c \u0438\u043d\u043e\u0441\u0442\u0440\u0430\u043d\u043d\u044b\u0445 \u0438\u043d\u0432\u0435\u0441\u0442\u043e\u0440\u043e\u0432 \u0438 \u043d\u043e\u0432\u044b\u0435 \u0438\u0441\u0442\u043e\u0447\u043d\u0438\u043a\u0438 \u0444\u0438\u043d\u0430\u043d\u0441\u0438\u0440\u043e\u0432\u0430\u043d\u0438\u044f \u0432 \u0444\u0438\u043d\u0430\u043d\u0441\u043e\u0432\u044b\u0439 \u0441\u0435\u043a\u0442\u043e\u0440. \u0421\u043d\u0438\u0437\u0438\u0442 \u0442\u0435\u043d\u0435\u0432\u0443\u044e \u044d\u043a\u043e\u043d\u043e\u043c\u0438\u043a\u0443, \u0440\u0430\u0441\u0448\u0438\u0440\u0438\u0442 \u0444\u0438\u043d\u0430\u043d\u0441\u043e\u0432\u0443\u044e \u0438\u043d\u043a\u043b\u044e\u0437\u0438\u044e \u0438 \u0434\u0438\u0432\u0435\u0440\u0441\u0438\u0444\u0438\u0446\u0438\u0440\u0443\u0435\u0442 \u0431\u0430\u043d\u043a\u043e\u0432\u0441\u043a\u0438\u0435 \u043f\u0440\u043e\u0434\u0443\u043a\u0442\u044b, \u0447\u0442\u043e \u0432\u0430\u0436\u043d\u043e \u0434\u043b\u044f \u0443\u0441\u0442\u043e\u0439\u0447\u0438\u0432\u043e\u0433\u043e \u0440\u043e\u0441\u0442\u0430.  <\/p>\n<p><strong>Key facts<\/strong><\/p>\n<ul>\n<li>At the meeting of the UzLiDeP faction, a draft law aimed at introducing Islamic banking activities is being <a href=\"https:\/\/telegra.ph\/post-09-15-14\">discussed<\/a>.<\/li>\n<li>There are limitations in the existing legislation: commercial banks are prohibited from directly participating in trade activities, and in Islamic financing, trade finance is one of the key methods.<\/li>\n<li>The draft law is aimed at compliance with the standards of AAOIFI and IFSB, international organizations regulating Islamic financial institutions.<\/li>\n<li>UNDP conducted a survey: <strong>68%<\/strong> of the population and <strong>60%<\/strong> of businesses allegedly do not want to use traditional banking services due to their religious beliefs.<\/li>\n<li>The President previously estimated that Islamic banking could attract around <strong>$5 billion<\/strong> in resources annually.<\/li>\n<\/ul>\n<p><strong>What they say<\/strong><\/p>\n<p>\u201cUzLiDeP\u201d emphasizes that the draft law will serve as a basis for organizing Islamic banks and \u201cwindows\u201d \u2014 which could be a key factor in attracting foreign investment.<\/p>\n<p>Central Bank representatives note the need to amend banking legislation and laws regulating banks&#8217; participation in trade and the authorized capital of legal entities.<\/p>\n<p><strong>Context<\/strong><\/p>\n<p>Uzbekistan is already taking its first steps: the 2022 law \u201cOn Non-Banking Credit Organizations and Microfinance Activities\u201d includes provisions allowing Islamic financial operations for microfinance organizations. The capital market bill provides for a separate chapter on Islamic securities \u2014 sukuk. <\/p>\n<p>The main obstacles are the lack of clear norms in banking, tax, and civil legislation, the shortage of specialists, and issues of double taxation for certain Islamic products of the murabaha type.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A draft law allowing the introduction of Islamic banking services in Uzbekistan is being discussed in the \u201cUzLiDeP\u201d faction of the Legislative Chamber of the Oliy Majlis.<\/p>\n","protected":false},"author":4,"featured_media":9033,"comment_status":"open","ping_status":"open","sticky":true,"template":"","format":"standard","meta":{"_sharing_image":[],"_sharing_image_fieldset":[],"pin_until":"","footnotes":""},"categories":[2061],"tags":[2081,2079,2625,2624],"class_list":["post-9039","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-en","tag-cb","tag-finance","tag-islamic-banking","tag-law"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.0 (Yoast SEO v25.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Uzbekistan is preparing a law on Islamic banking &#8212; Frank.uz<\/title>\n<meta name=\"description\" content=\"A draft law allowing the introduction of Islamic banking services in Uzbekistan is being discussed in the \u201cUzLiDeP\u201d faction of the Legislative Chamber of the Oliy Majlis.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/frank.uz\/en\/news-en\/uzbekistan-is-preparing-a-law-on-islamic-banking\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Uzbekistan is preparing a law on Islamic banking\" \/>\n<meta property=\"og:description\" content=\"A draft law allowing the introduction of Islamic banking services in Uzbekistan is being discussed in the \u201cUzLiDeP\u201d faction of the Legislative Chamber of the Oliy Majlis.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/frank.uz\/en\/news-en\/uzbekistan-is-preparing-a-law-on-islamic-banking\/\" \/>\n<meta property=\"og:site_name\" content=\"Frank.uz\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/FrankUzbekistan\" \/>\n<meta property=\"article:published_time\" content=\"2025-09-15T12:49:48+00:00\" \/>\n<meta name=\"author\" content=\"Azamat\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@frank_uzb\" \/>\n<meta name=\"twitter:site\" content=\"@frank_uzb\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Azamat\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/frank.uz\/en\/news-en\/uzbekistan-is-preparing-a-law-on-islamic-banking\/\",\"url\":\"https:\/\/frank.uz\/en\/news-en\/uzbekistan-is-preparing-a-law-on-islamic-banking\/\",\"name\":\"Uzbekistan is preparing a law on Islamic banking &#8212; 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