Articles | Open Access | DOI: https://doi.org/10.37547/marketing-fmmej-03-06-03

THE IMPORTANCE OF ISLAMIC FINANCES FOR ECONOMIC DEVELOPMENT OF UZBEKISTAN

Isaev Oybek Bakhramovich , Banking And Finance Academy Of The Republic Of Uzbekistan

Abstract

This article reveals the economic importance of the wide introduction of Islamic finance, a field with a huge potential demand in Uzbekistan, and the importance of Islamic finances for Uzbekistan. Further development of the field of Islamic finance in Uzbekistan, creation of an opportunity for many compatriots in Uzbekistan who do not use this type of service according to their values, to earn additional income and purchase necessary equipment through Islamic financing, as a result of which it serves to solve some current problems, is shown and justified. Also, it is shown that it is possible to use Islamic finance products together with traditional financial services in Uzbekistan, that the world's leading countries are successfully using this in practice, and it is necessary to expand the types of Islamic finance services in Uzbekistan, as well as to widely include Islamic finance in higher education and professional development courses.

Keywords

Islam, finance, leasing

References

Establishing the training, upgrading and retraining of specialists in Islamic financing in the higher education system, including special topics on Islamic finance in economic education programs;

Development and approval of laws regulating Islamic finance;

To increase the literacy of the population regarding Islamic finance, for this, it is necessary to organize more programs aimed at increasing knowledge in this direction through mass media.

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How to Cite

Isaev Oybek Bakhramovich. (2023). THE IMPORTANCE OF ISLAMIC FINANCES FOR ECONOMIC DEVELOPMENT OF UZBEKISTAN. Frontline Marketing, Management and Economics Journal, 3(06), 12–24. https://doi.org/10.37547/marketing-fmmej-03-06-03