Islamic Bank Licensing Procedures Established

The licensing procedure for Islamic banks has been established in Uzbekistan. All members of the specialists of the Islamic bank in Islamic law must know the Arabic language. This requirement is important for understanding and interpreting primary sources related to Islamic law issues in Arabic. Additionally, Islamic banks play a significant role in the country's economy, and new procedures are being implemented to develop them. These changes are aimed at modernizing Uzbekistan's financial system and ensuring economic growth.