In Uzbekistan, microfinance organizations were allowed to provide Islamic financial services
The Central Bank of Uzbekistan approved the Regulation "On the procedure for providing services related to Islamic financing". Now, microfinance organizations in Uzbekistan will be able to provide Islamic finance services to clients based on the requirements of the Izam.
The Central Bank of Uzbekistan approved the Regulation "On the procedure for providing services related to Islamic financing". Former deputy Rasul Kusherbaev published a copy of this Regulation on his Telegram channel.
Now, microfinance organizations in Uzbekistan will be able to provide Islamic finance services to clients based on the requirements of the Izam.
In particular, Uzbek microfinance organizations can provide Islamic rental, financing based on profit sharing (murobah), financing based on national trade (murobaha), partnership - financing based on profit and loss sharing (mushoraka), financing based on advance payment (salam).
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