Tuesday, 28 October, 2 PM – 4:40 PM (Tashkent time)
Format: Hybrid (in-person & online)
Language: English
Zoom: https://us06web.zoom.us/j/81327550375?pwd=eYifxIsTS3lTTTZQgk0DMYgsqqWRwa.1
ID: 813 2755 0375
Access code: 268701
The round table will examine how leading jurisdictions have built Islamic finance ecosystems and which elements could be adapted for Uzbekistan. Participants will compare institutional models and regulatory strategies from Bahrain, Lebanon, Malaysia and Tunisia, identifying the mechanisms that enabled market growth, supervisory coherence and Shariah governance, and exploring which principles travel best across legal systems.
A second strand of discussion will focus on product architecture and bank-level practice. Experts will unpack approaches to issuing Sharia-compliant instruments in commercial banks—such as the structuring of murabaha, ijara and sukuk—and consider operational requirements, risk controls and board oversight to ensure compliance without stifling innovation. Particular attention will be paid to how these instruments are certified, monitored and reported under different regulatory regimes.
Building on these insights, the discussion will map a pragmatic pathway for Uzbekistan: the minimum regulatory and organisational measures needed to launch a pilot within selected commercial banks; sequencing of rules and guidance; and options for a proportionate Shariah governance framework that fits domestic law and supervisory capacity. The aim is to translate comparative experience into an actionable pilot roadmap, with clear milestones and feedback loops between regulators, banks and Shariah advisors.
Finally, participants will consolidate recommendations for public authorities on promoting Islamic banking—covering policy design, market education and inter-agency coordination—and will outline how the event’s analytical output will capture lessons learned, assess potential economic impacts and risks, and propose next steps for a sustainable market architecture in Uzbekistan.
