The process of developing Islamic banking-finance system in Uzbekistan has entered a qualitatively new institutional stage starting from 2026. Specifically, Law No. ZRU-1126, adopted on March 27, 2026, defined the legal framework for Islamic banking activities and the implementation of Islamic financial operations, and this regulatory legal act entered into force on June 29. At the same time, it was announced that the new draft law on the capital market provides for a separate chapter dedicated to the regulation of Islamic securities, including sukuk relations.These changes indicate that the necessary legal framework is being created in the country for the formation of the Islamic capital market. However, the existence of legal prerequisites does not by itself mean the formation of a market, as this requires the comprehensive and balanced development of investor demand, high-quality financial instruments, the issuer base, market infrastructure, the Sharia governance system, and the level of liquidity. The article provides a scientific analysis of the main factors determining supply and demand for the Islamic capital market in Uzbekistan, the potential role and significance of sukuk, the potential of public savings, opportunities for attracting foreign Islamic capital, as well as the experience of Malaysia and Kazakhstan.
| Mualliflar | Jakhongir , Imamnazarov, Имамназаров , Жаҳонгир, Имамназаров , Жаҳонгир |
|---|---|
| Jurnal | Иқтисодий тараққиёт ва таҳлил |
| Nashriyot | Ўзбекистон иқтисодиётини ривожлантиришнинг илмий-тадқиқот маркази |
| ISSN | 2992-877X |
| Nashr sanasi | 2026-09-29 |
| Jild | 4 |
| Son | 9 |
| Betlar | 282-291 |
| Til | Ingliz |
| Ilmiy soha | Iqtisodiyot |
| DOI | 10.60078/2992-877x-2026-vol4-iss9-pp282-291 |
| Indeksga qo‘shilgan | 2026-10-06 |
DOI: 10.60078/2992-877x-2026-vol4-iss9-pp282-291 · Maqolaning asl sahifasi
Islamic capital market, sukuk, Islamic investment, Sharia securities, investor, demand, рынок исламского капитала, сукук, исламские инвестиции, ценные бумаги согласно шариату, инвестор, спрос, предложение, ислом капитали бозори, сукук, ислом инвестицияси, шариатга мувофиқ қимматли қоғозлар, сармоядор, талаб, таклиф
| APA | Jakhongir , Imamnazarov, Имамназаров , Жаҳонгир, & Имамназаров , Жаҳонгир (2026). ANALYSIS OF DEMAND AND SUPPLY FOR THE ISLAMIC CAPITAL MARKET IN UZBEKISTAN. Иқтисодий тараққиёт ва таҳлил, 4(9), 282-291. https://doi.org/10.60078/2992-877x-2026-vol4-iss9-pp282-291 |
|---|---|
| GOST (OAK) | Jakhongir , Imamnazarov, Имамназаров , Жаҳонгир, Имамназаров , Жаҳонгир ANALYSIS OF DEMAND AND SUPPLY FOR THE ISLAMIC CAPITAL MARKET IN UZBEKISTAN // Иқтисодий тараққиёт ва таҳлил. – 2026. – T. 4, № 9. – P. 282-291. – DOI: 10.60078/2992-877x-2026-vol4-iss9-pp282-291. |
| MLA | Jakhongir , Imamnazarov, Имамназаров , Жаҳонгир, and Имамназаров , Жаҳонгир. “ANALYSIS OF DEMAND AND SUPPLY FOR THE ISLAMIC CAPITAL MARKET IN UZBEKISTAN.” Иқтисодий тараққиёт ва таҳлил, 4(9), 282-291, 2026. https://doi.org/10.60078/2992-877x-2026-vol4-iss9-pp282-291 |
| Chicago | Jakhongir , Imamnazarov, Имамназаров , Жаҳонгир, and Имамназаров , Жаҳонгир. “ANALYSIS OF DEMAND AND SUPPLY FOR THE ISLAMIC CAPITAL MARKET IN UZBEKISTAN.” Иқтисодий тараққиёт ва таҳлил, 4(9), 282-291 (2026). https://doi.org/10.60078/2992-877x-2026-vol4-iss9-pp282-291 |
| Harvard | Jakhongir , Imamnazarov, Имамназаров , Жаҳонгир, and Имамназаров , Жаҳонгир (2026) ‘ANALYSIS OF DEMAND AND SUPPLY FOR THE ISLAMIC CAPITAL MARKET IN UZBEKISTAN’, Иқтисодий тараққиёт ва таҳлил, 4(9), 282-291. https://doi.org/10.60078/2992-877x-2026-vol4-iss9-pp282-291 |
| BibTeX | @article{jakhongirimamnazarov2026,
title = {ANALYSIS OF DEMAND AND SUPPLY FOR THE ISLAMIC CAPITAL MARKET IN UZBEKISTAN},
author = {Jakhongir , Imamnazarov and Имамназаров , Жаҳонгир and Имамназаров , Жаҳонгир},
journal = {Иқтисодий тараққиёт ва таҳлил},
year = {2026},
volume = {4},
number = {9},
pages = {282-291},
doi = {10.60078/2992-877x-2026-vol4-iss9-pp282-291},
url = {https://doi.org/10.60078/2992-877x-2026-vol4-iss9-pp282-291}
} |
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