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Economic significance of the development and widespread of Islamic banks in Uzbekistan

Field of Science:AccountingBusiness and International ManagementBusiness, Management and Accounting (miscellaneous)General Business, Management and AccountingIndustrial RelationsManagement Information SystemsManagement of Technology and InnovationMarketingStrategy and ManagementTourism, Leisure and Hospitality ManagementEconomics and EconometricsEconomics, Econometrics and Finance (miscellaneous)FinanceGeneral Economics, Econometrics and Finance
National field of science (HAC):05.08.01 — Transport systems of the country, its regions, cities and industrial centers. Transport logistics08.00.01 — Economic theory08.00.02 — Macroeconomics08.00.03 — Industrial economics08.00.04 — Agricultural economics08.00.05 — Service sector economics08.00.06 — Econometrics and statistics08.00.08 — Accounting, economic analysis and audit08.00.09 — World economy08.00.10 — Demography. Labor economics08.00.11 — Marketing08.00.12 — Regional economics08.00.13 — Management08.00.14 — Information systems and technologies in economics08.00.15 — Economics of entrepreneurship and small business08.00.16 — Digital economy and international digital integration08.00.17 — Tourism and hospitality13.00.07 — Educational management08.00.07 — Finance, money circulation and credit
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ARTICLE ANNOTATION

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This article examines the economic importance of the development and spread of the Islamic banking system in the Republic of Uzbekistan. Islamic banks operate on the basis of Sharia principles and do not provide for receiving interest. The article analyzes the compatibility of Islamic banks with the religious needs of the population, their ability to support the real sector of the economy and small businesses, as well as the potential to attract investments into the national economy. The study includes an analysis of the legal, institutional, human and infrastructural aspects related to the implementation and development of the Islamic financial system in the country. The article also examines the role of Islamic banks in the modern economic strategy of Uzbekistan and their importance in ensuring the sustainable development of the country.

AUTHORS

I.Ismanov

Farg'ona davlat texnika universiteti

Z.Abdusalomova

Farg'ona davlat texnika universiteti

Tags

# investments# economic development# financial inclusion# economy of Uzbekistan# islamic bank# sharia finance# interest-free bank# murabaha# mudaraba# rent

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References

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