The rapid expansion of Islamic finance globally has necessitated the development of specialized regulatory frameworks that can operate alongside conventional banking supervision. This study investigates the complementary roles of three principal standard-setting bodies—the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), the Islamic Financial Services Board (IFSB), and the Basel Committee on Banking Supervision (BCBS)—in achieving regulatory coherence within dual banking systems. Five distinct levels of standards interaction were identified: capital adequacy, liquidity management, Shariah governance, core regulatory principles, and institutional coordination. The IFSB-23 standard, adopted in 2023, was found to serve as an effective bridge between Basel III capital requirements and the profit-and-loss-sharing nature of Islamic financial contracts, introducing the alpha-factor mechanism for calibrating capital requirements applicable to profit-sharing investment accounts. AAOIFI standards complement this prudential framework by providing detailed guidance on Shariah compliance, financial accounting, and governance structures specific to Islamic financial institutions. A comparative legal analysis of implementation models in Malaysia, Bahrain, and the UAE revealed three distinct approaches: Malaysia’s integrated model with a single regulator, Bahrain’s direct mandatory adoption of AAOIFI standards, and the UAE’s hierarchical system prioritizing national regulation while aligning with international standards. The study further examined the emerging regulatory landscape of the Republic of Uzbekistan, where Law No. ZRU-1126 of March 2026 established a legal framework for Islamic banking, creating an Islamic Finance Council under the Central Bank. Based on the comparative analysis, the adapted Malaysian model was recommended as optimal for Uzbekistan, combining centralized regulation with the flexible integration of IFSB prudential standards and AAOIFI Shariah guidance. The findings suggest that regulatory coherence in dual banking systems requires a systematic approach that simultaneously addresses prudential requirements, Shariah compliance, and institutional capacity building during the transitional period.
| Mualliflar | Abdullokh, Sodik, Абдуллох, Содик, Abdulloh, Sodiq |
|---|---|
| Jurnal | Жамият ва инновациялар / Общество и инновации / Society and innovations |
| Nashr sanasi | 2026-04-25 |
| Jild | 7 |
| Son | 4/S |
| Betlar | 224-232 |
| Til | Rus |
| DOI | 10.47689/2181-1415-vol7-iss4/s-pp224-232 |
DOI: 10.47689/2181-1415-vol7-iss4/s-pp224-232 · Maqolaning asl sahifasi
пруденциальное регулирование, шариатское соответствие, финансовая гармонизация, инвестиционные вкладчики, дуальный надзор, prudential regulation, Sharia compliance, financial harmonization, investment investors, dual supervision, prudensial tartibga solish, shariat muvofiqligiga rioya, moliyaviy uyg‘unlashtirish, investitsion omonatchilar, dual nazorat
This article provides a comprehensive scientific analysis of the concept, essence, and content of globalization, as well as the main approaches to its interpretation. It examines the role of the nation-state in the…
This article discusses trends in the development of civil society in the context of technology in today’s digital world. The rapid advancement of digital technologies in the 21st century has fundamentally reshaped the…
This article examines contemporary trends in copyright dispute, resolution drawing on the legal practice of the United States and European Union countries. The analysis focuses on a comparative study of traditional…
This article examines the structural and semantic features of behavior-expressing verbs in English and Uzbek from a comparative perspective. The study focuses on the morphological structure, lexical-semantic…
This study explores lexical innovation in digital discourse through a corpus-driven comparative analysis of Uzbek and English social media communication. The rapid expansion of digital platforms has significantly…
It has been established that artificial intelligence is not, under current law, an autonomous bearer of criminal culpability; instead, liability is channelled through natural and legal persons who design, market…
This article examines the issue of increasing educational effectiveness through the integration of play, creative activity, and innovative pedagogical technologies into the preschool education process. The importance of…
This article explores the theoretical and methodological foundations of digital discourse and pragmatics within the field of linguistics. The study focuses on the functional characteristics of linguistic units in…
The article provides a criminological analysis of the causes of female criminality and the conditions conducive to its commission. The author examines the theoretical and legal content of the concepts of crime…
This study explores the development of inclusive English Language Teaching (ELT) materials that reflect learners’ identities through both textual and visual elements. In contemporary multilingual and multicultural…
Жамият ва инновациялар / Общество и инновации / Society and innovations — barcha maqolalar