THE ALTERNATIVE FINANCE ECOSYSTEM IN UZBEKISTAN: A STAGED DEVELOPMENT MODEL BASED ON INFRASTRUCTURE AND CAPACITY
DOI:
https://doi.org/10.60078/2992-877X-2025-vol3-iss10-pp245-258Abstract
The aim of this study is to develop a phased model for the gradual formation of an alternative finance ecosystem in Uzbekistan, taking into account the country’s existing financial market infrastructure, institutional capacity, and available alternative finance instruments. To achieve this objective, the study adopts a predominantly qualitative approach. The analysis results in the formulation of key policy directions and implementation stages for the development of an alternative finance ecosystem in the country. In particular, the study outlines the establishment of an institutional foundation to support alternative finance, the design of a human capital development strategy and the enhancement of awareness in the field of Islamic finance, the phased introduction of Islamic capital market instruments and the preparation and sequencing of development programs.
Keywords:
alternative finance institutional framework human capital development policy awareness Islamic capital market instrumentsReferences
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