Structural dynamics of islamic microfinance within Uzbekistan’s dualistic financial system

Shomansurova Zilola, Abdumannopova Shirin Olamgir qizi

Актуар молия ва бухгалтерия ҳисоби · 2026-yil

Annotatsiya

This study analyzes the structural integration of Islamic microfinance into Uzbekistan’s dualistic financial system following the 2024 CBU regulatory reforms. Using empirical data from the Central Bank’s 2024 Annual Report, the research evaluates the distribution of Shariah-compliant instruments through the lens of "Incremental Implementation" theory. The results identify a profound contractual concentration: Murabaha dominates the market with a 99.34% share (1,117.0 million UZS), while Ijarah accounts for only 0.66%, and participatory models (Musharaka) remain unused. This "contractual skew" indicates that while the system successfully mobilizes dormant capital, it remains focused on retail consumption rather than production-based risk-sharing. The study concludes that to achieve the "Uzbekistan – 2030" goals, the ecosystem must transition from trade-based installments to digitalized equity models. "Fintech-ization" is identified as the key driver for diversifying the dualistic model and supporting sustainable SME growth.

Maqola ma’lumotlari
MualliflarShomansurova Zilola, Abdumannopova Shirin Olamgir qizi
JurnalАктуар молия ва бухгалтерия ҳисоби
NashriyotТoшкент дaвлaт иқтиcoдиёт универcитети
ISSN2181-1865
Nashr sanasi2026-03-18
Jild6
Son03
Betlar42-47
TilIngliz
Ilmiy sohaIqtisodiyot
DOI10.55439/afa/vol6_iss03/1335
Indeksga qo‘shilgan2026-08-26

DOI: 10.55439/afa/vol6_iss03/1335 · Maqolaning asl sahifasi

Kalit so‘zlar

Islamic Finance, Uzbekistan, Dualistic Financial System, Murabaha, Microfinance, CBU, Financial Inclusion, Fintech.

Ilmiy soha

Iqtisodiyot

Iqtibos keltirish

APAShomansurova Zilola, & Abdumannopova Shirin Olamgir qizi (2026). STRUCTURAL DYNAMICS OF ISLAMIC MICROFINANCE WITHIN UZBEKISTAN’S DUALISTIC FINANCIAL SYSTEM. Актуар молия ва бухгалтерия ҳисоби, 6(03), 42-47. https://doi.org/10.55439/afa/vol6_iss03/1335
GOST (OAK)Shomansurova Zilola, Abdumannopova Shirin Olamgir qizi STRUCTURAL DYNAMICS OF ISLAMIC MICROFINANCE WITHIN UZBEKISTAN’S DUALISTIC FINANCIAL SYSTEM // Актуар молия ва бухгалтерия ҳисоби. – 2026. – T. 6, № 03. – P. 42-47. – DOI: 10.55439/afa/vol6_iss03/1335.
MLAShomansurova Zilola, and Abdumannopova Shirin Olamgir qizi. “STRUCTURAL DYNAMICS OF ISLAMIC MICROFINANCE WITHIN UZBEKISTAN’S DUALISTIC FINANCIAL SYSTEM.” Актуар молия ва бухгалтерия ҳисоби, 6(03), 42-47, 2026. https://doi.org/10.55439/afa/vol6_iss03/1335
ChicagoShomansurova Zilola, and Abdumannopova Shirin Olamgir qizi. “STRUCTURAL DYNAMICS OF ISLAMIC MICROFINANCE WITHIN UZBEKISTAN’S DUALISTIC FINANCIAL SYSTEM.” Актуар молия ва бухгалтерия ҳисоби, 6(03), 42-47 (2026). https://doi.org/10.55439/afa/vol6_iss03/1335
HarvardShomansurova Zilola, and Abdumannopova Shirin Olamgir qizi (2026) ‘STRUCTURAL DYNAMICS OF ISLAMIC MICROFINANCE WITHIN UZBEKISTAN’S DUALISTIC FINANCIAL SYSTEM’, Актуар молия ва бухгалтерия ҳисоби, 6(03), 42-47. https://doi.org/10.55439/afa/vol6_iss03/1335
BibTeX
@article{shomansurovazilola2026,
  title = {STRUCTURAL DYNAMICS OF ISLAMIC MICROFINANCE WITHIN UZBEKISTAN’S DUALISTIC FINANCIAL SYSTEM},
  author = {Shomansurova Zilola and Abdumannopova Shirin Olamgir qizi},
  journal = {Актуар молия ва бухгалтерия ҳисоби},
  year = {2026},
  volume = {6},
  number = {03},
  pages = {42-47},
  doi = {10.55439/afa/vol6_iss03/1335},
  url = {https://doi.org/10.55439/afa/vol6_iss03/1335}
}

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