IMPROVING METHODOLOGICAL APPROACHES TO THE APPLICATION OF ISLAMIC FINANCIAL INSTRUMENTS: UZBEKISTAN’S EXPERIENCE AND INTERNATIONAL STANDARDS
DOI:
https://doi.org/10.60078/2992-877X-2025-vol3-iss11-pp242-248Abstract
This article analyzes the methodological foundations for applying Islamic financial instruments in Uzbekistan and proposes key directions for their improvement in line with international standards. A comparative evaluation of AAOIFI and IFSB guidelines, along with the experiences of leading Islamic finance markets such as Malaysia, the UAE, and Turkey, is conducted. The findings indicate that the development of Islamic finance in Uzbekistan requires enhancements in the legal framework, institutional structure, product design methodology, risk management practices, Shariah governance, and tax treatment. Addressing these methodological gaps is essential for ensuring the sustainable and effective growth of Islamic finance in the country.
Keywords:
Islamic finance AAOIFI standards IFSB guidelines Shariah audit methodological approachesReferences
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