The Central Bank of the Republic of Uzbekistan acted as strategic partner for the 20th International Shariah Scholars Forum in Islamic Finance in Tashkent and signed a memorandum of understanding with INCEIF University focused on Islamic finance education and research as Uzbekistan considers introducing an Islamic banking system. The memorandum covers cooperation on educational programmes, training courses and seminars, and joint research in Islamic finance, and includes an agreement to translate four Islamic finance books into Uzbek and make them available to users. Over two days of sessions on 17–18 September, participants discussed Islamic banking models (full-fledged banks, subsidiary structures and Islamic “windows”), Shariah governance arrangements including Shariah committees and internal control systems, legal and regulatory challenges in replacing conventional products with Islamic alternatives and aligning with global standards, and the integration of social finance instruments such as zakat, waqf and sadaqah into banking products; the Central Bank’s Deputy Chairman Abrorkhoja Turdaliev addressed the forum’s opening ceremony.
Central Bank of the Republic of Uzbekistan 2025-09-19
Central Bank of the Republic of Uzbekistan signs Islamic finance memorandum with INCEIF at International Shariah Scholars Forum 2025
The Central Bank of the Republic of Uzbekistan partnered with the 20th International Shariah Scholars Forum in Tashkent and signed an MoU with INCEIF University to advance Islamic finance education and research. The agreement includes translating Islamic finance books into Uzbek and developing educational programs. Discussions at the forum covered Islamic banking models, Shariah governance, regulatory challenges, and integrating social finance tools.