FEATURES OF CREATION OF A LEGAL FRAMEWORK FOR THE ISLAMIC BANKING SYSTEM IN SELECTED CENTRAL ASIA COUNTRIES
Abstract
This article examines the unique aspects of the experience of some countries in creating a legal framework for Islamic banks, which have gained their place in the global financial market and have shown stable growth rates. Scholarly commentary is presented on the experiences of neighboring countries such as Tajikistan and Kazakhstan, whose systems of government are similar to those of Uzbekistan and which want a democratic system. Some points are highlighted that should be paid attention to by a country that has begun to create a legal framework for Islamic banking. A study was conducted of the impact of legislative changes in leading countries.
Keywords:
Islamic finance Islamic banks usury financial market investment deposit partnership Islamic credit Islamic window legislation Ijarah Islamic credit organizationsReferences
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