ВОЗМОЖНОСТИ ПРИМЕНЕНИЯ КОНТРАКТОВ ИСЛАМСКОГО БАНКИНГА В ФИНАНСИРОВАНИ ТУРИСТИЧЕСКИХ ПРОЕКТОВ В СТРАНАХ ЦЕНТРАЛЬНОАЗИАТСКОГО СРЕДНЕАЗИАТСКОГО РЕГИОНА: ПРАКТИКА И ПЕРСПЕКТИВЫ

Abstract

Amid the global transformation of financial systems and the search for ethical 
alternatives to traditional banking, Islamic finance is demonstrating steady growth, particularly 
within and beyond countries with Muslim populations. This article analyzes the potential of 
applying Islamic banking contracts (Murabaha, Ijarah, Musharakah, Sukuk) to finance and develop 
tourism infrastructure. It examines the legal, economic, and organizational aspects of implementing 
these instruments in the CIS countries, specifically in Russia and Central Asia, taking into account 
the unique characteristics of the tourism sector. The author proposes concrete solutions for 
attracting investment through partnership-based and debt-based Islamic instruments, while also 
identifying the barriers and future prospects of their implementation.