The procedure for transitioning banks and microfinance organizations in Uzbekistan to Islamic banking has been officially established. The new regulations registered by the Ministry of Justice include mechanisms for the gradual transition of credit organizations to the Islamic financial system. These changes aim to further develop and expand the Islamic financial system. The new procedure is expected to have a positive impact on economic processes. This step, aimed at creating new opportunities in the financial sector, will enhance Islamic finance practices in the country.
SourceKun.uz