Mechanisms for increasing the effectiveness of using islamic finance instruments in small business development in Uzbekistan

Toshxo‘jayev , Abduqodirxon

Яшил иқтисодиёт ва тараққиёт · 2026-yil

Annotatsiya

The article examines mechanisms for increasing the effectiveness of using Islamic finance instrumentsin small business development in Uzbekistan. While small business generates more than half of the country’s GDP, asignificant share of entrepreneurs remains outside conventional interest-based financing for religious reasons. The lawintroducing Islamic banking, signed on 27 March 2026 and effective from 29 June 2026, created the legal basis for mobilisingthis latent resource. Drawing on international reports (ICD–LSEG IFDI, GIFT), an analysis of national regulations, theIMAN platform case study and a systemic approach, the paper assesses the fit between Islamic instruments (murabaha,ijara, salam, musharaka, mudaraba, sukuk) and small-business needs and proposes a five-track organisational-economicmechanism for raising effectiveness. The recommendations include a regulatory sandbox, Shariah-compliant analogues ofstate support programmes, digital-native Islamic windows, a salam pilot for agriculture and small-denomination retail digitalsukuk.

Maqola ma’lumotlari
MualliflarToshxo‘jayev , Abduqodirxon
JurnalЯшил иқтисодиёт ва тараққиёт
NashriyotТошкент давлат иқтисодиёт университети
ISSN2992-8982
Nashr sanasi2026-07-01
Jild4
Son7
Betlar355-361
TilIngliz
Ilmiy sohaIqtisodiyot
DOI10.5281/zenodo.21324759
Indeksga qo‘shilgan2026-09-06

DOI: 10.5281/zenodo.21324759 · Maqolaning asl sahifasi

Kalit so‘zlar

small business, Islamic finance, murabaha, ijara, salam, musharaka, sukuk, financial inclusion, effectiveness mechanism, Uzbekistan

Ilmiy soha

Iqtisodiyot

Iqtibos keltirish

APAToshxo‘jayev , Abduqodirxon (2026). MECHANISMS FOR INCREASING THE EFFECTIVENESS OF USING ISLAMIC FINANCE INSTRUMENTS IN SMALL BUSINESS DEVELOPMENT IN UZBEKISTAN. Яшил иқтисодиёт ва тараққиёт, 4(7), 355-361. https://doi.org/10.5281/zenodo.21324759
GOST (OAK)Toshxo‘jayev , Abduqodirxon MECHANISMS FOR INCREASING THE EFFECTIVENESS OF USING ISLAMIC FINANCE INSTRUMENTS IN SMALL BUSINESS DEVELOPMENT IN UZBEKISTAN // Яшил иқтисодиёт ва тараққиёт. – 2026. – T. 4, № 7. – P. 355-361. – DOI: 10.5281/zenodo.21324759.
MLAToshxo‘jayev , Abduqodirxon. “MECHANISMS FOR INCREASING THE EFFECTIVENESS OF USING ISLAMIC FINANCE INSTRUMENTS IN SMALL BUSINESS DEVELOPMENT IN UZBEKISTAN.” Яшил иқтисодиёт ва тараққиёт, 4(7), 355-361, 2026. https://doi.org/10.5281/zenodo.21324759
ChicagoToshxo‘jayev , Abduqodirxon. “MECHANISMS FOR INCREASING THE EFFECTIVENESS OF USING ISLAMIC FINANCE INSTRUMENTS IN SMALL BUSINESS DEVELOPMENT IN UZBEKISTAN.” Яшил иқтисодиёт ва тараққиёт, 4(7), 355-361 (2026). https://doi.org/10.5281/zenodo.21324759
HarvardToshxo‘jayev , Abduqodirxon (2026) ‘MECHANISMS FOR INCREASING THE EFFECTIVENESS OF USING ISLAMIC FINANCE INSTRUMENTS IN SMALL BUSINESS DEVELOPMENT IN UZBEKISTAN’, Яшил иқтисодиёт ва тараққиёт, 4(7), 355-361. https://doi.org/10.5281/zenodo.21324759
BibTeX
@article{toshxojayevabduqodirxon2026,
  title = {MECHANISMS FOR INCREASING THE EFFECTIVENESS OF USING ISLAMIC FINANCE INSTRUMENTS IN SMALL BUSINESS DEVELOPMENT IN UZBEKISTAN},
  author = {Toshxo‘jayev , Abduqodirxon},
  journal = {Яшил иқтисодиёт ва тараққиёт},
  year = {2026},
  volume = {4},
  number = {7},
  pages = {355-361},
  doi = {10.5281/zenodo.21324759},
  url = {https://doi.org/10.5281/zenodo.21324759}
}

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