The Islamic Financial Services Board (IFSB) received a working visit from the Central Bank of the Republic of Uzbekistan at its headquarters in Kuala Lumpur, with discussions centred on how IFSB standards and related support could underpin the development of Uzbekistan’s Islamic banking sector. The engagement covered advancing safe and sound Islamic finance practices, adapting IFSB standards to local needs, and identifying strategic cooperation opportunities aligned with Uzbekistan’s financial sector development goals. The delegation was briefed on the IFSB’s standards development and capacity-building work and its engagement across 61 member jurisdictions, alongside context on Uzbekistan’s reforms including a 2024 statute allowing microfinance institutions to offer Islamic financial services. Uzbekistan joined the IFSB in 2024, and the visit was framed as a step towards deeper institutional cooperation and further collaboration.
Islamic Financial Services Board 2025-07-17
Islamic Financial Services Board hosts Central Bank of the Republic of Uzbekistan delegation to deepen cooperation on Islamic banking standards
The Islamic Financial Services Board (IFSB) hosted a working visit from the Central Bank of the Republic of Uzbekistan to discuss leveraging IFSB standards for developing Uzbekistan's Islamic banking sector. Discussions focused on adapting standards to local needs and exploring strategic cooperation opportunities. The visit marks a step towards deeper institutional collaboration following Uzbekistan's 2024 membership in the IFSB.