ANALYSIS OF THE CURRENT STATE OF BUSINESS FINANCING PRACTICE BASED ON ISLAMIC FINANCE IN UZBEKISTAN

Abstract

This article analyzes the current state, prospects, and current problems of business financing based on Islamic finance principles in Uzbekistan. Information is provided on the practical application of such instruments as murabaha, ijara, musharaka, mudaraba, their distribution and implementation by financial institutions. Islamic finance services are also analyzed using the example of the activities of Islamic leasing (Taiba Leasing), fintech (IMAN) and Islamic insurance (Apex Insurance) organizations. The article thoroughly covers obstacles such as the legal framework, infrastructure, financial literacy of the population, and staff shortage of Islamic finance. The importance and promising directions of cooperation with foreign experience and international organizations are indicated. Therefore, the article can have practical significance for scientific researchers, government bodies, and Islamic finance institutions.