New Requirements for Opening Islamic Banks Come into Effect

New requirements have been introduced in Uzbekistan for the organization and licensing procedures of Islamic banks and the 'Islamic windows' alongside traditional banks. The changes, registered by the Ministry of Justice, establish the legal framework in this area. The new requirements aim to further improve the operations of Islamic banks and increase their transparency. These changes were implemented to ensure economic stability and attract investments. The innovations in the operations of Islamic banks and windows will create new opportunities in the financial services sector.