Ministry of Justice Registers Regulatory Acts for Islamic Banking Operations

Tashkent, Uzbekistan (UzDaily.uz) — The Ministry of Justice of Uzbekistan has registered amendments and additions to departmental normative-legal acts regulating the operations of Islamic banks. The regulations were developed to implement Law No. ZRU-1126 "On Islamic Banking Activity," enacted on March 27, 2026.

According to the Ministry of Justice, amendments were made to ten departmental normative-legal acts that underwent state registration to build the comprehensive legal foundation necessary for Islamic financial institutions to operate in the country.

Specifically, the updated rules adjust risk management frameworks for banks and banking groups, requirements for commercial bank acquisitions of real estate, property, and equity shares in corporate entities, as well as procedures for calculating maximum risk exposure per borrower or group of interconnected borrowers, including bank-affiliated parties.

Additionally, the regulatory updates address corporate governance standards in commercial banks and modify the procedures for bank contributions to the Deposit Guarantee Fund.

The Ministry of Justice noted that these newly registered provisions are designed to strengthen the legal framework governing Islamic banking in Uzbekistan.